Can owner operators make 4k per week after all expenses and taxes?

Discussion in 'Ask An Owner Operator' started by Power Meister, Aug 26, 2022.

  1. Judge

    Judge Road Train Member

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    Truck/trailer payment is included in expenses on list i provided.
    $11,761.59

    I only do 2000-2500 miles a week.
    Once was 3500, but then i took off a couple the next week.

    My truck payment was $1,119.07(now paid for) trailer is $717.76
    reason not much money for parts, i’d that’s what I’ve bought to fix, other is included in truck repair/maintenance cost.


    This is running my numbers and my insurance.
    I stay in a 500 air mile radius of my house.
     
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  3. Power Meister

    Power Meister Light Load Member

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    Right, from the listed expenses I subtracted the truck and trailer payment and the driver payment, but left the Southland loads payment. Ultimately, at today's spot rates, I came up with $1.29 per mile income(gross minus expenses), and this is before taxes and without truck or trailer payment. So per week income, 2000 miles * $1.29 = 2580/wk. Thus, it does not look all that good to be an owner operator at today's spot rates.
     
    Last edited: Aug 28, 2022
  4. Judge

    Judge Road Train Member

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    That’s all expenses.
    Southland loads is broker’s part.

    I don’t do van/spot market on van, I pull a starvation wagon(hopper)

    Last year my gross was 193k, fuel expenses were less to though.

    Driver pay Gross is shy of 30k, but after state/SS/fed tax/quarterly unemployment tax net driver pay is 20k give or take a $100
     
    Last edited: Aug 28, 2022
  5. Power Meister

    Power Meister Light Load Member

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    Here is how I adjusted expenses:

    124803.34 Expenses - 11761.59 Truck payment - 29576.33 drivers = 83465.42 Expenses w/o truck payment and w/o driver payment.

    181901.52 Gross - 83465.42 Expenses = 104436.1 profit
    104436.1/56274.9 = 1.85 income per mile w/o truck payment and before taxes.
    But that 1.85 should be reduced to 1.29 to reflect today's spot rates for profit per mile in the present.
     
    Last edited: Aug 28, 2022
  6. Judge

    Judge Road Train Member

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    What taxes?

    Company doesn’t pay taxes.

    single member LLC taxed as an S corporation is not taxed on its profits, but the profits are taxed to the individual members.


    IE me, off how much Payroll is.


    That’s up to the 31st, i’ve 3 more days this month to add to those numbers, planning on 2-3 $2k loads for each day, should get 2 out of the 3.


    I don’t know why you keep adjusting rate to “spot market van rates”
    Specialty trailers will never match van trailer pay per mile.

    Added Photos of load rate. B843805B-6AFB-4A16-84AB-5BFE35AE335C.png 945398A0-4258-4953-92C9-47A9E4887F8F.png 400F9D59-6619-460B-82D9-6FF78FAD05B7.png
     
    Last edited: Aug 28, 2022
    Reason for edit: Added Photos
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  7. Power Meister

    Power Meister Light Load Member

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    I left all taxes, truck, and driver payments out of expenses. Also the purpose of the thread was to determine what income per mile an owner operator with own authority and a van trailer could expect to make at today's spot rates. And I came up with $1.29/ mile. Again this is without taxes, truck, or driver payment. The 1.29 also notices your use of a hopper trailer instead of a van trailer. It came out that your rate per mile was $3.23/mile with the hopper trailer and income was $1.85/mile. But adjusting to the present spot rate of $2.25/mile for a van trailer results in income of $1.29/mile.
     
    Last edited: Aug 28, 2022
  8. Judge

    Judge Road Train Member

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    Doesn’t say Van in title or first post, asks if an O/O can make 4K/week after expenses and taxes.

    I set up a company, company gets paid, I work for my company at .56/mile just as if i was working for some other company at that rate.
    Company makes 4k plus/week.
     
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  9. Power Meister

    Power Meister Light Load Member

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    Right, my bad. The title should read "before taxes". But still the point is to see what the average owner operator can expect to receive in income per mile.

    According to the math it appears your company, pulling the hopper trailer, makes $4140/ week running 2250 miles / wk. But that is at the old rates. Does your company make $4k+ at today's spot rates?
     
    Last edited: Aug 28, 2022
  10. Siinman

    Siinman Road Train Member

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    You realize spot rates are up and down depending on location/time/delivery. So if you are saying can the average Owner Operator make it the answer is most likely NO. If you are asking if an owner operator that knows how to run and willing to run to max out earning the answer is easy Yes
     
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  11. Judge

    Judge Road Train Member

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    I go Wed-Wed on paperwork, paid get money direct deposited Friday, sometimes the following Friday.

    Here’s the last few, expenses and all.
    62FF93A1-8577-4DBD-91D1-4B0A6E7A023B.png
    95DE806D-1ADD-45C0-AE9B-903F0B6CD77F.png
    B457A3AE-AD6B-4A5F-9199-28DFEA1707EF.png D18EFA1B-4A74-4226-ADD5-5801BA6F451A.png

    WRT is a direct shipper load, their cut which is 2.5% vs a brokers 10%.
     
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