I do not and will not pull cheap freight!

Discussion in 'Ask An Owner Operator' started by skidsteer863, Mar 13, 2013.

  1. MNdriver

    MNdriver Road Train Member

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    apparently it is.

    Because if you put all those in as expense in the business, you are getting incorrect statements on the health of your company.

    Listed as one simple expense as a salary/wage is a more correct and ACCURATE statement of what your companies performance really is.


    But hey, you are the BCO with all the experience and I am just the dumb EX-f2f driver who knows nothing.
     
  2. Autocar

    Autocar Road Train Member

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    Have you never heard of a "Draw" against the business? This is a method, used for hundreds of years, in small business, to transfer money from the business to personal funds. This is a method used by CPAs, and Enrolled Agents to show where business funds were drawn off to pay for personal expenses. In my early years, 1979 -1985, my CPA used this method and advised against setting a salary, as a small sole prop, with no employees.

    You use "salary", I use draws, the results are the same.
     
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  3. Cat sdp

    Cat sdp Road Train Member

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    Let us know what the top end and cab work estimates are..... Equipment replacement costs can't be avoided............
     
  4. Epmtrucks

    Epmtrucks Medium Load Member

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    Im driving an 84 pete 359 flattop, 220" wb, 350 cat economy, built to compete against the formula cummins. The budget is for 20k 120000 miles per year. Thank you, for lighting the light. Its a budget for a 5 year plan. Doesnt mean you spend itbevery year. But can buy rebuild and do better than new used with a bank payment! And a lot less stress, lots of pleasure in testing and improving and mmaking things better with todays technoligies. Its fun and proffitable. My equipment replacement is less than .03 per mile for a 5 year period and then a .17 per mile parts and repair budget.
     
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  5. Autocar

    Autocar Road Train Member

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    True, they can not be avoided, but they sure are not as high as your saying. Even if I did an out of frame rebuild, of the engine, every 5 years, at 20 grand a pop, that is only $4,000 per year average.
     
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  6. Fiddle Sticks

    Fiddle Sticks Light Load Member

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    I find it awsome that you can make money with a 30-year old truck. Do not breakdowns catch up with you though?
     
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  7. Cat sdp

    Cat sdp Road Train Member

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    A-car not picking on you but when you fix the cab and paint it watch out.....

    This guys replacement costs don't add up......

    120k miles x 5 years @ .03cent = not even a down payment...... Maybe he got lucky in 08 , wouldn't plan on that happening again........
     
  8. Oi!

    Oi! Road Train Member

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    I believe you can. When I was at Con-Way Truckload I befriended an O/O there. He had paid cash for his high mileage Pete and offered me 37 cents per mile to drive it for him so he could go buy another one. Con-Way pays (or paid back then) 93 cents per mile on all miles including deadhead, plus 40 cent per mile fuel surcharge. I'm assuming he was still bringing in profit otherwise he wouldn't offer me anything, he looked like his finances were in good standing and had high hopes of starting his own fleet, which eventually he did.
     
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  9. Epmtrucks

    Epmtrucks Medium Load Member

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    Aint it cool to be able to budget .17 for parts and repairs, .52 for fuel & .085 for fixed cost and know you can do it grossing 1.60 for a 120000 miles. My taxable net will certainly be around .80 a mile. No truck payment, lower insurance cost & lower PP taxes.. My county taxes my truck on 750.00. what idiots. My trailer at 4500.00.
     
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  10. Epmtrucks

    Epmtrucks Medium Load Member

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    I budget 20 grand a year for my truck and trailer. What to ypu budget?
     
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