Yearly Profit After Expenses...

I figured I would take all my stuff here and turn it into a short story of sorts. I might start doing videos in the future I already have a few up on youtube but they have nothing to do with trucking lol. My youtube account is jmcclelland2007 if anyone wants to see those, be aware they are my personal views on subjects such as gun control, politics, and religion and sorts. If you watch these do not take offense to them as they are not directed towards any given individual.

 

I want to add that in the story of shorts I might use other peoples comments/replies. If anyone would like me to refrain from using any information of theirs please let me know. Also if you don't mind me using the information but would prefer to remain anonymous also let me know.

 

Alright for everyone that cares the Facebook page is up and running there is a short story on there about how we began and a funny story of todays events.

 

What has your monthly gross been looking like JMC?

 

unfortunately as events have been unfolding we do not have a monthly gross as of yet. This is mostly due to downtime for repairs adding up and cutting our working time down. However I can give you the number of approximately 20k gross based on having right at 10k for two weeks out of the month on average. At this point with the way things have gone I am planning to chalk these few short months up to learning experience and start kind of fresh next year. So ask again in a couple months and I can give you a better answer.

 

That's understandable, hope you get all the kinks worked out soon!

 

Hey JMC, you may want to get an accountant to work with you early on. If you have any invoice-able miles, you have a monthly gross income. You may not have a net profit, but if you've been running, you have a gross income, and if you average it over time, you have a gross income per month. This is not a number that "might" happen if you were to bill a certain amount consistently, it is an actual number, regardless any expenditures you've made or days off due to repairs or DH-ing. You might have spent more in repairs than you took in, but that just means you have no net profit. I think it sounds like you're running using the "seat of your pants" method of accounting! That can work OK sometimes, like, at the end of the year just hand the "shoebox full of receipts" (these days, a spreadsheet) to your accountant and hope for the best, but if it were me I'd be tuned in to where my numbers were at all times, and know what the numbers and terms really mean.