Need Truck Buying Advice

Discussion in 'Ask An Owner Operator' started by OldeSkool, Mar 25, 2020.

  1. rbrtwbstr

    rbrtwbstr Road Train Member

    3,202
    7,074
    Jul 11, 2012
    in the bush somewhere
    0
    Using the numbers you gave, ($1150 payment, and 750 in repairs) how did you arrive at $2900 a month? I'm only seeing $1900? Unless I am missing something?
     
  2. Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  3. rbrtwbstr

    rbrtwbstr Road Train Member

    3,202
    7,074
    Jul 11, 2012
    in the bush somewhere
    0
    I dunno, running locally, I'd rather send $12k a year to the gooberment, with no truck payment, than $30k to the bank for a truck payment, and still have taxes to think about.

    And if the work dries up, you are not sitting on a $2800 a month payment
     
  4. OldeSkool

    OldeSkool Road Train Member

    1,257
    2,745
    Jul 17, 2018
    Arkansas
    0
    Weekly
     
    Bakerman Thanks this.
  5. OldeSkool

    OldeSkool Road Train Member

    1,257
    2,745
    Jul 17, 2018
    Arkansas
    0
    I've had some big expenses and just averaged it out.
     
  6. Oor

    Oor Road Train Member

    1,366
    3,526
    Jan 11, 2012
    0
    He paid $170000 for his. Subtract what you paid for yours. There's what your missing.
     
  7. OldeSkool

    OldeSkool Road Train Member

    1,257
    2,745
    Jul 17, 2018
    Arkansas
    0
    I'm figuring in the $12,000 taxes that I wouldn't have supposedly with a new truck. That's really my biggest problem is the high taxes. Nobody else I talk to is paying even close to that, but I won't do shady or illegal things to bring it down. Anything legitimate is fine.
     
    rbrtwbstr Thanks this.
  8. rbrtwbstr

    rbrtwbstr Road Train Member

    3,202
    7,074
    Jul 11, 2012
    in the bush somewhere
    0
    Ok now I see
     
    650cat425 Thanks this.
  9. Bakerman

    Bakerman Road Train Member

    4,663
    8,806
    Jan 27, 2013
    Phoenix, AZ
    0
    I'm positive that you need to find a new tax professional.
    Just did my taxes last weekend, we grossed just over $300K and got a refund of $14K from fed and $1500 from state.

    Need to show your taxable income is as small as possible.

    After all expenses, my taxable income was just below $3,000.
     
    OldeSkool and Hulld Thank this.
  10. Hulld

    Hulld Road Train Member

    2,882
    6,561
    Oct 19, 2015
    Upstate NY
    0
    I would look in to a different tax accountant.
    I have found that there are two types of accountants and both do a legal job.
    One takes your numbers and puts them in to the blanks and tells you how much you owe.
    The other gives you strategies to follow through out the year so you don’t owe a lot of taxes at the end of the year.
     
  11. OldeSkool

    OldeSkool Road Train Member

    1,257
    2,745
    Jul 17, 2018
    Arkansas
    0
    I've used two different accountants. The first year was $6,000, but the accountant depreciated out so much of my truck I hardly had any left. By year 3 I only have like $2,000 depreciation and the tax man said it's going to be really high taxes.
     
  • Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.