$1500 wk on 1099, good pay? I need money bad.

best thing I ever did was get my own truck and it's been 30 years. .. and it's not that hard to get your first one ..plenty of places have easy finance if you can get something with a little bit of warranty on it even a couple of months so you can build up a little maintenance account .. or lease one ( not from a carrier from a dealer ) I am leased to landstar and have 2 trucks going to get another one in a couple of months just for the tax breaks. .. landstar isn't a bad way to go especially if you are east of the missippi . they take care of a lot of the bs and government issues all I have to worry about is picking the loads and getting them there ... running on you're own authority isn't what it's cracked up to be unless you have a few trucks and you're own accounts . the rates are really high right now so it's a great time to start out a little easier if you have some money coming in ..... with the miles you're running now you should net 2500 week after all your expenses. with the new tax laws you can take the cost of the truck off the first year so you will not be paying much tax .... but put away some money for maintenance. .. I go 20 cents per mile until I have 20000 in for each truck ... repairs can eat up 10000 in a hurry

 

120000 actual income have plenty of tax shelters and write off more like 5 %

 

it's the way the system works just need to weave you're way through all the loopholes ... but I have 2 trucks and some miscellaneous equipment that are paid for still being depreciated

 

I am under an llc subchapter s cor portion and pay myself a small Salery and most of my profits come from the corporation and is not subject to the 15% social security tax then you have the write offs that you do not get being a company driver that comes right off the top and not an itemized deduction and I put a lot in a ira account that I will have to pay tax on when I take it out .. and that is why you need a good tax person and one that is truck savy

 

Thank you for all that good information & encouragement. I was just looking into schneider inventory. They have a good reputation w/ maintaining their trucks & the company I'm with now pays its owner operators $3per mile. So I was planning on staying put. Lets see if he'll keep me after I tell him I'm not going to incorporate. We'll see.

 

Thank you for all this information information! Can you give me an example of the right offs your talking about that aren't itemized because just maybe I do need a new tax person. I was just looking at schneider's trucks & plan on getting one of them (an old one) soon. Then I was going to stay w/the company I'm with since he's paying oops $3 per mile. That's if he'll let me drive as an independent for a couple more months w/out being incorporated. Hope so. Buckeye 60 as an oop do you have a deductible for liability insurance for your drivers? His insurance company (northern insur)told me he doesn't, but he's telling me he has 1k & that I have to pay it. What are your thoughts about that?

 

no my driver is an employee so I carry all the insurance . if that thousand is when you get your own truck that's normal . if that's now that's strange but not unheard . cell phone .shoes Internet computer anything that possible relates to the truck. paper towels windex anything. plus oops still get the 58.00 per diem . business miles on personal vehicles it all adds up ... plus some creative thinking that I don't talk about

 

Those things she adds. I had a mishap at a shippers. Damage was done, my fault. Insurance called me & when U asked her about deductible she said there wasn't one for liability . Is that normal? My boss says there is one & of course that's my bill.

 

usually there is one but most companies take care of it . it sounds like the people that you are working for are paying you good except they want you to take all the risks is that cargo or just liability

 

I have talked to a few guys that leased a truck from Schneider and are doing ok and you can work on % off there load board and it's all computer and you don't really have to deal with anybody unless you have problems. .. I deal with agent's with every load I haul and that can be a pain at times . I do most of my stuff with about 10 agents but 20 %is doubled brokered loads that I get off agents that are in India and don't have much info on the loads. anyways your dealing with different people all the time. but I have ins with some good agents and do them favors and they throw me a few bones . that system is harder to learn your way around . so pumpkin might be a good place to start . I am not sure what they are paying on loads and I don't think they get the 5 or 6 $loads too much but if you're in the Midwest the rates are really good for everyone