The odds are in favor of the house

Supply and Demand.. The L/P market has created opportunity for individuals. Company's forcast that the L/P market is growing, so in order to move freight and be competitive they offer these programs as partnerships. This Partnership eliminates competition in the field..

 

An L/P settlement check of any amount doesn't have any taxes or business expenses calculated in it. Depending on which carrier is issuing the settlement, it could possibly not include fuel expense, maintenance costs, or even tolls i.e. reimbursements. What a lease settlement is is simply the payment of miles accrued over a specific period of time and at a specific rate per mile (or percentage of load). Given this information alone (the amount of settlement per pay period) can't be compared to a company driver weekly pay...oranges and apples. Since a company driver has a set amount of deductions (taxes, Fed and State) where an L/P needs to figure in the different taxes and other business costs to find the end profit.

As an L/P, I ran more miles and made personal income (profit) less than I do as a company driver. It didn't take long to see and learn that the institution (carrier) was the only one making a profit...the Lease driver is just getting by. With Obabmacare, I don;t see how any L/P can survive and still take care of a family. And if that L/P is single with no ties, the obsurd insurance rates to keep off the penalty of Obamacare is senseless. Not to mention the addition of the cost to deposit into a personal SSN account for retirement takes away from anything going into savings.

 

Just had another thought about this subject. The L/P that has "figured out" that if he/she hires another driver to operate this leased truck, than gets an additional lease truck to drive his/her self then gets that light bulb thought of getting another and another, hiring other drivers ....yet has if "figured out" the original L/P can have 4 or so lease trucks operating and can sit at home while others make him/her the $$$, and simply by 1099'ing each of those drivers can skate out of any/all responsibilities of being an "employer"!

What a hypocrite! Extending the "free market" of "see how dumb these drivers are" thesis.

Just an after thought rant BTW!

 

Obamacare penalty for me this year was a whopping $170. I refuse to get one of those overpriced plans where I still have a deductable of several thousand before it even kicks in.

If l/p is a scam the aca is the biggest shell game in history.

Well second biggest. SS would be the biggest.

 

Can you really argue that about taxes with an l/p?
From what I understand the only tax difference between an o/o and l/p is that an o/o can deduct the truck payment.

 

That is the first year "penalty". Have you checked on what the increase for the second year will be? How about the increase of the increase for the third year, the fourth year....and on and on? It has no end limit you know, it just keeps getting exponentially bigger. By the third year your penalty is generally higher than the cost of a personal insurance plan.

SS is not a scam....it is pyramid scheme! My God man....terminology needs to be accurate!!! LOL

 

No, the L/P can deduct the lease payment...it is a legitimate business expense. What an L/P can't deduct (in most cases) is the depreciation of the equipment. Since the carrier is the first second party of a lease (carrier leases these vehicles from the manufacturer....most don't realize this fact), the first lessee can claim the depreciation, not the second or beyond.

 

I'm not getting into a pissing match kid. I know what I make. I don't have to tell stories. I ran 4150 miles this week. I've posted them before, it's all good. There's a few companies where a company driver makes more than that. Izzie's out of Jersey? Those guys are doing $2000-2500 a week. Company drivers too. At Lessors if you want to run they'll run you. I average $1200-1500 a week with some $1800-2000 weeks in there. You just gotta learn how to work kid.

 

I wouldn't want to have to run 600 miles/day every day in order to make a decent paycheck. Hell, my "average" week consists of 1500 miles and maybe 40-45 hours. Make more now than I used to running 2500 miles and 65-70 hours. Not to mention, maintenance and fuel costs are WAY down these days...

 

That's a full week right there. How long after you parked the truck did the tires stop smoking??. haha.