CAGE and Prime Inc.

How true!! I make more like .22 cents for every hub mile. I will take this lower amount because my only personal overhead expense is food and personal health/beauty supplies. I live in my truck, and everything else I buy is a business write off. I am doing a lease purchase with another company and my goal at the end of 4 years is to have 20,000.00 in my maintenance/repair account and 47,000.00 in my truck purchase account plus 10,000.00 minimum in my operational account. So far I am on track. I am willing to sacrifice 4 years of low take home pay to build my company/credit worthiness, my overall goal is to own my truck outright and go full O/O.

When I started my lease I had 10,000 in my maintenance account 4500.00 set aside for down payment, performance bond & 1st year of permits, and 4000.00 in my operational account. I file my own IFTA/hut taxes and pay cash for fuel, since my company does not give any pump discounts

Sorry for the hi jack Cage, I will behave from this point on.

 

No, I don't have any trucking experience. However, I do have business experience - got a B.S. degree in Accounting & Business Administration. I think I will do well on the business side of things. As you mentioned, I will just have learn how to efficiently operate the truck. Thanks for the input.

 

This sounds similar to what I want to do. How often do you pay your taxes - monthly or quarterly?

 

You're expected to be an adult - in charge of your business. While they do take out workers comp, you are expected to pay your own federal and state withholding. Don't forget, you're responsible for the self-employment tax!

You're required to make quarterly filings. I make an e-payment weekly. Less pain that way!

Here's the barometer: When you can manage 7 mpg week over week - not what comes off of the ECM, but including APU fuel usage - then you're ready. Less than that, and you're courting bankruptcy.

 

You are guys are really helpful. Thanks for the overflow of info.

 

good luck cagetrucker-i've been with the flatbed side for going on 7 yrs (counting my passmore days) as a company driver. topped out at .44 cpm but i bring home a good check. the lease program is a good way to earn a living but like others have stated-be cautious of ur expenditures. good luck

 

Cage, I see that you use a cpap machine. I also use one, waiting for final confirmation and hope to beheaded to SLC for orientation next tues. How do you power your unit, by the apu sordid you get a 12 adapter to plug into cig. lighter, I had heard that you do not want to power the unit through an inverter because the sine waves are different and can burn out the diodes. I did check with my machine manufacture and they confirmed that it would.

 

Not really sure why you seem to talk a lot of smack. I have read in several posts where you pick pick pick. It appears that Cage got a new start here at Prime and its working for him. Just because it didn't work for you...doesn't mean its a bad company. If he bothers you, just go to one of the many hundreds of posts on TTR. Seeing how this one is listed under his name, it appears you came here intentionally to start problems. Just my .02 cents. I have seen in a few posts where moderators have had to counsel you on fighting and name calling...grow up.