Husband buying truck for Fedex contract
Discussion in 'Trucker Taxes and Truck Financing' started by starry, Mar 3, 2008.
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I've gotta FEDEX Broker packet in this office somewhere. And yes Im pretty sure they require a truck less than 10 years old and thats at sign on. Dont hold to the 10 year bit. But I do believe thats what I read. 10-4?
All the best,
Matthew -
Hey starry,
Glad to hear that things are going well for you and hubby, and that you are taking a BIG step. I was a contractor with FedEx ground for three years (with a step van) and it was probably the best driving job I have ever had. Obviously until you guys move, hubby won't be home every night (like I was), but working for yourselves will mean a big jump in your earnings. Just don't be afraid to ask some of the other contractors how to 'interpret' hubby's settlements (they are confusing at first!). And I would 100% agree that you should participate in the maintanance fund; just make sure hubby fills out the deduction form ASAP, cause it takes a few weeks (to a month) to take effect (at least it did when I worked there). And use their direct deposit too.
If I can think of anything else, I will pass it along. Good luck!
(and welcome to the forum!) -
I was going to go over there, but like you said starry, it's not often they have a lane opening up. Hint, possibly because no one quits until they retire maybe. I would have had to wait 5 months before I could go over there when a lane opened, but that was too long for me. I have talked to many drivers who pull for them and they wouldn't work anywhere else. Good choice with the career change! I wish the best of luck to you and your hubby!
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Good Good!
I knew I read it in their Contract somewhere about 10 years Something!
Fedex Custom Critical is not to far from us. In fact they are about 5 Miles down the road. CORPORATE HQ.
I wish you luck on your all's journey and may this Industry treat you the way it did me WAY back when! 10-4?
It's a very HARD ROW to hoe right now, and Im speaking for us all! Oh boy!
The Industry is HARD, its cut throat and you / I / We are all replaceable the same day we quit a contract or lease! Thats the way it is... It SUCKS!
BUT,
No Lie! The Industry is also what you put into it! If you put BLOOD Sweat, tears into it... I can almost promise you that one will come out ahead.
Even in todays CRUEL, CRUEL world!
All the best,
Matthew Sr. -
And good luck with the business part of it; FYI, save more than you think for taxes, at least for the first 6 mos. to year, because otherwise you guys could find yourselves behind the 8 ball. I used to save $350/wk (on an average gross of $1200-1300/wk) and have that deducted into my maintanance acct. Then when it was tax time (every quarter!), I would withdraw the money and make my payment- but not until after I got the $200/quarter bonus for keeping $1k in it (that's how it worked back then).
These are the kinds of tricks y'all will learn, again good luck and keep us posted! -
I'm looking to do the same at some point. I'm currently driving for a contractor with Fedex Ground and would like to have an opportunity to be an O/O. Please feel free to share in the experience so we rookie can learn !!!
Thanks
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