New Truckers Wife - freaking out!

Discussion in 'The Welcome Wagon' started by my5spuds, Dec 15, 2011.

  1. my5spuds

    my5spuds Bobtail Member

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    My husband is just finishing up his training and starting to fill out all of the applications his instructors are sending him home with. All of the info I'm finding on the internet is a bit overwhelming so I thought this might be a good place to start trying to figure out what's fact and what's fiction.

    My husband has been in construction his whole life and after waiting many years for business to pick up he decided to just close down his company and try something totally new.

    I would welcome any opinions or advice from those of you that have trucker husbands/partners.

    One specific question I have is why would a trucking company ask for 5 years of tax returns with the application?
     
  2. cowboy_tech

    cowboy_tech Road Train Member

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    If your dh was self employed, the tax returns are a form of employment verification.

    Sent from my ADR6400L using Tapatalk
     
  3. GuysLady

    GuysLady Trucker Forum STAFF Staff Member

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    Exactly what cowboy tech said..
     
  4. rodzilla

    rodzilla Light Load Member

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    The tax return thing is to verify self employment. As far as companies to go to I can't really say. The smaller the better. But the one thing I can tell you is DO NOT, under any circumstances, do a lease purchase. This will put your husband ( and you) on the hook for a lot of operating expenses. Profit (paycheck) comes after everything else is paid. If there is nothing left after operating cost then there is nopaycheck. Tell your hubby to hire on as a company driver, get a few years experience, then you can make an educated decision about owning a truck. Welcome to TTR and merry Christmas to you & yours!
     
  5. chalupa

    chalupa Road Train Member

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    Also, delete the income off the returns. They will use it against you and you won't know it.....

    Here's how: Lets say hubby was very successful in const. Say he grossed 500k and kept 250k + / - or even 100k. There's no way he'll pull that or even close to that as a new driver. They will think he's use to much more money and he won't stay, be happy etc. and when he leaves , that will cost us money.

    They don't need the income to verify employment either........

    JMO
    Good luck !
     
  6. Okieron

    Okieron <b>Crusty Okie</b>

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    Its the way to verify and by law they have to verify so many years.
     
  7. my5spuds

    my5spuds Bobtail Member

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    Chalupa,
    Do you think the income will cause concern if it's the other way around? My dh went from an income of $85,000 to $24,000 in the past 5 years. I don't want anyone to think we can continue to live on $24,000 a year, that's why he's making the career change in the first place.
     
  8. chalupa

    chalupa Road Train Member

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    Concern no, but could be manipulated against him...... EG: he's only made 24 so lets start him there ...or near there...seen that too.

    I'm suggesting you take the equation off the table. It's not the law and they don't need to know. If he must disclose a number...make it 35k.....but blacken out the returns for sure. Show SS# , addresses etc. but no gross, AGI or deducts. It's irrelevant from a different business and none of the carriers business.

    JMO from experience.......
     
  9. Flightline

    Flightline Road Train Member

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    Carriers don't care what numbers are on your return, They just have to show the DOT audits that they have confirmed your employment history. Being self employed, the returns are about the only way. They also don't care if you black out all the numbers. Just need to see signature and ssn and selfemployment tax paid.
     
  10. flightwatch

    flightwatch Heavy Load Member

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    You left out the part about getting the $2500 paycheck the next week. You also left out the fact about how usually the 1st trip of the week will cover most (if not all) of your operating expenses...or how you can gross over $4,000.00 in a week when you include the fuel surcharge. What about how leasing a truck gives a lot more flexibility than you get as a company driver. I think you might have forgotten about the thousands of drivers out there that are doing extremely well on leases. I lease, and I do significantly better than I did on the company side. Perhaps you should stop believing the truck stop cafe rhetoric about leases...or perhaps you failed at a lease? Either way, let them make up their own mind about whether they want to pursue that avenue.