I do not and will not pull cheap freight!

The only years that I have even come close to spending 20 grand on maintenance was when I blew the motor and bought a full set of drive tires. Oh, BTW, my truck will be 30 years old this August.

 

Why would you, as a sole prop, even have a salary, except to create more needless numbers to drive yourself crazy?

Truck expense at x number of miles equals W

Household and living expenses, plus savings, etc equals V

W plus V equals Y

Truck must produce revenue equaling Y to be profitable. Less than Y is not profitable. More than Y is extra profitable.

Very simple and no imaginary "salary" involved. Corporations pay salaries. Sole props call revenue left over after all business expenses, income.

 

Guess we were taught differently then.

Because you still have to do a balance sheet, statement of cash flow and Profit and Loss statement for a business and in a business, personal expenses don't go into company books.

Sole proprietor, Corp, Etc are tax definitions. It doesn't change accounting practices.

http://www.accountingcoach.com/online-accounting-course/09Xpg01.html

 

One of the best comments I've ever read here.

 

This thread is not about me. I don't need any help from you with money management nor business. I simply commented that somebody is dreaming if they think $1.65 on all miles is profitable for any solo truck operation. Anyone who thinks that must live in their parent's basement or have a significant other with a great job that allows them to stick their head in the sand about the true cost to roll.

 

It is posssible for $1.65 on all miles to be profitable. Can't say one would have much profit. But it's possible.

 

Thats funny. And u act like it doesnt exist. Just because u cant find them dont mean those loads dont exist. But usually those that dont get their way thinks its all smoke. Yet, there are many many out there that do it EVERY day. Things are EARNED, never given. Be safe out there drivers.

 

We where talking cheap rates. Bad Business and personal financial decisions are not factored into the market when calculating freight rates. Trucking or any other business should noy be taking personally. Thats is reason for the seperation. Totally two different matters. If you had 3 carpenters working for you, of equal skill would you pay 1 more because his financial house is a wreck. Its not your concern. Its a personal matter.

 

Just about everyone on here at some point will haul a cheap load. just try to make sure the load before or after pay enough to suppliment the cheap freight.

 

You are correct to included your household and other personal expenses in your total income expenses for your being. However, as an O/O, you still have to be able to strip out business expenses from your personal ones if you wish to get accurate analysis. Just like in the Godfather movies--there is 'personal', and there is 'business'.

Including household costs within a truck's breakeven is underestimating income and overestimating expenses for that business. A truck's financials should not take a hit because the O/O purchases a Mazeratti and a football sized swimming pool and a big mansion and has his arms full of dames--this is all personal.

The main reason for not including personal incomes and expenses in your business income is--is that you are going to have your household costs regardless; whether you are O/O'ing driving a truck, or driving a forklift at a warehouse, or modleing for GQ magazine, or pan-handling at the truck stop, your household and personal expenses are there.

The second reason is that some of us are located in high cost-of-living areas (like me) and others live in more friendly cost-of-living areas (like you). Some of us live in a cardboard box (like me) and some have a pretty decent set of digs for living arrangements such as you may have. Some have a litter of kids and others are single. Some live in an older broken down house and others live in an apartment.

---------------------------

My judgement is for Epmtrucks--the simplest way to tell what should be cheap freight for the masses of O/O's is to use only their truck incomes and expenses to calculate their breakeven point of operations. Then, those O/O's will be able to assess everything to whether they are 'having a field day' with the freight rates or that they should 'close their businesses'.

Epm seemingly has done well keeping his costs down thus giving him an advantage over one whose costs are relatively higher. What may be cheap freight and unacceptable to the high cost running O/O may not necessarily be cheap and unacceptable freight rates for Epm.