Some numbers for new O/O

W923 · Apr 7, 2022

Personally I wouldn’t buy anything that’s computerized and certainly stay pre emissions there’s nothing you need in commifornia.
I know some people will say otherwise but in my opinion there much simpler and more reliable but you can’t just be a steering wheel holder because there not self protecting just a thought not trying to imply anything about you

Pete 389 · Apr 7, 2022

W923 said: ↑

Personally I wouldn’t buy anything that’s computerized and certainly stay pre emissions there’s nothing you need in commifornia.
I know some people will say otherwise but in my opinion there much simpler and more reliable but you can’t just be a steering wheel holder because there not self protecting just a thought not trying to imply anything about you
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I live in Chicago area
So should I get a 379

Ruthless · Apr 7, 2022

Pete 389 said: ↑

I live in Chicago area
So should I get a 379
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Imo
You should read this thread beginning to end, then think about what you are adding to it.

Old_n_gray · Apr 9, 2022

Ruthless said: ↑

Imo
You should read this thread beginning to end, then think about what you are adding to it.
Click to expand...

Are they adding anything to this thread? Un real.

Old_n_gray · Apr 10, 2022

Some of these threads have me scratching my head.

westcoastie · Apr 14, 2022

These numbers are from over a year ago, but this is one of my more basic spreadsheets:

JoeyJunk · Apr 15, 2022

westcoastie said: ↑

These numbers are from over a year ago, but this is one of my more basic spreadsheets:
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Rate per mile 1.42?!?!?!

Hockeyguy1234! · Apr 29, 2022

Who are the brokers? How would you even start.

Simpletun · May 19, 2022

Lucastookis said: ↑

You are welcome.in Dec and Jan, I grossed 80,100 bucks. In Dec, I ran my ### off for a total of 12,800 miles at an average of 3.25 per gallon for 41,600. In January, I made 39,100 bucks for a two month total of 80,100 gross pay those 2 months.

How did I do it? I stayed out 2 months straight, but took a 5 day mini vacation on New Years. I did completely OTR and would start in California with rates around 3.70 cents on average and take a long haul to the North East, then I would make my way back west in increments, usually 3 lanes to get back to the West coast which I would get right around 3.00 per mile going east to west, then rinse and repeat.

I operate a bit different with my giddy up. I know the following. For every 1 dollar I make, I am going to keep 45 cents (43 to 47 cents) in my pocket even after taxes. For example, I save 25000 per year for when it's time for a new truck and I pay my wife that money as part of our business so it's pretty much tax deductible, but when calculating my costs..
1. Maintenance and Tires and Warranty
2. Insurance
3. Fuel
4. Tags/Fees/Passes/etc.
5. 25k per year for the next truck.
6. State and Local Income Taxes that will be due
When I add up all of those 6 things above, it always totals anywhere from 43% to 47% of my total income. So for me, when all is said and done, all taxes paid, everything to operate the truck, I know that I have in my pocket (after taxes) 45 cents for every 1 dollar I make driving is mine to keep. This is a bit different than how many do it, but I like to calculate cost to run the truck with EVERYTHING involved that will NOT go in my pocket. For me, 45 cents out of every dollar made or 45% of my gross is what ends up in my pocket.

Another way to look at it, for every dollar I gross, I pay 55 cents of that dollar to cover my fuel, maintenance, tags/fees/Passes, 25k per year for the next new truck, and my state and federal income taxes. 55 cents out of every dollar covers all of that.

So, for 2022, I will drive around 110k. If I average a rate of 3.00 per mile, that's 330k gross. I know that the money I will keep of that 330 K is 45% or 148,500, that's take home, in my pocket and after taxes, 148,500.

If the rates are 2 dollars per mile (they won't be that low) but if 2.00 per mile and I run 110 k miles. That's 220 K gross. So for me, I will take home 45% of that which is 99,000 dollars in my pocket.

How do I know its 45% when gas rates very and maintenance varies? Well, like I wrote, I take home 43 to 47 percent and gas fluctuation always falls into this percentage because when gas is up, that's more tax deductible so taxes come down some, so the fluctuation never skews my final annual take home pay by more than 4% variance of that total takehome pay. As for maintenance, what about it varying? I purchase the all inclusive warranty/maintenance plan, so my maintenance fees per year are pretty darn consistent. I pay a lot, but have piece of mind knowing I'm not going to pay much More in the event of bad luck. So for me, now here's the kicker, my truck is paid which is huge, but for me, I know within about a 4 percent variance, that for every dollar I make, 43 to 47 cents (about 45 cents) is my absolute take home, true net pay after taxes a everything paid.

The mistake some truckers make is NOT considering ALL costs. If you are an O/O, you know the truck isn't lasting forever and when it's time, you will need another truck, so literally putting back 25K per year for the next year is something I treat as a cost. It's an absolute must just like fuel or maintenance. It's not optional. I save taxes on that 25K by paying my wife as part of my business. The other critical thing is considering your state and federal income taxes as a cost each and every month. Thr last one is critical but hard to do. If you can buy a brand new truck, you are going to have the opportunity to purchase near 100 percent warranties and annual maintenance plans which will save you thousands upon thousands in maintenance until you trade the truck in at the 500k mark when the warranty goes out, and you have the 100 or 125 K you have set back over 4 to 5 years to get a new truck.
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Well this did not age well, he did not think rates would drop down past $2.00 a mile. Yet here we are and fuel prices are over $2 more per gallon.
Crazy how drastic things can change with in 6 months. If we plug in todays rates and fuel prices at 110k miles per year as of right now.
You would be looking at $1.80 a mile ( I know most O.O with half a brain are not taking these) but for sake of the argument before.
And $6 per gallon for diesel.
$1.80 x110,000 miles = $198,000 Gross
Average 6 mpg at $6 per gallon
$110,000 in Fuel Alone.
Leaving $88,000 to take of all other expenses and somehow pay yourself.

JoeyJunk · May 19, 2022

I’m not anywhere near 1.80 a mile. Many of us aren’t.

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