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My sister wants to buy a truck. Advise please

Discussion in 'Ask An Owner Operator' started by snooze, Feb 28, 2012.

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  1. Feb 28, 2012 #1
    snooze

    snooze Bobtail Member

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    Jun 27, 2011
    orlando,fl
    0
    My sister`s friend bought her own truck and now has her own authority. Now my sister wants to buy a truck and lease it onto the company that am working for. This will be act as a second income for her since she already has a good job in healthcare. She wants me to drive it. I have plenty of experience in trucking and have even owned a truck before. I have a few questions.
    1) The truck will be registered i her name. Do i need a power of attorney to operate the truck?
    2)Does she need to establish a business or can she do it as a sole propriertorship?.

    Remmeber the truck will be leased onto a carrier that will provide permits, tags,ins etc

    Thanks guys. Be safe. Helpful comments only please.
     
    snooze, Feb 28, 2012
    snooze, Feb 28, 2012
    #1
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  3. Feb 28, 2012 #2
    mnmover

    mnmover Road Train Member

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    Apr 5, 2009
    Lichfield MN
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    you will not need power of attorney. But she will need to withhold your payroll taxes and submit them to the appriopiate state and federal agencies. Perhaps starting up as a LLC would be in order. She should also have a way to send you money, T-Chek or Com-Check or credit cards or ???? She could be a sole propietor LLC. I would be more worried about her purchasing a truck as many mistakes are usually made that cost a lot in the long run.. I could give you some tips.
     
    mnmover, Feb 28, 2012
    mnmover, Feb 28, 2012
    #2
    Bill104 Thanks this.
  4. Feb 28, 2012 #3
    jimvrg

    jimvrg Medium Load Member

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    Jan 11, 2012
    yellville arkansas
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    bad time to buy a truck with the way fuel is going up,i would rethink that idea
     
    jimvrg, Feb 28, 2012
    jimvrg, Feb 28, 2012
    #3
  5. Feb 28, 2012 #4
    snooze

    snooze Bobtail Member

    19
    6
    Jun 27, 2011
    orlando,fl
    0
    Thanks for the replies.
     
    snooze, Feb 28, 2012
    snooze, Feb 28, 2012
    #4
  7. Feb 28, 2012 #5
    mnmover

    mnmover Road Train Member

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    Apr 5, 2009
    Lichfield MN
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    The price of fuel is sublimented by the fuel surcharge paid by the carrier. If you ask, what is a fuel surcharge, then you need more information on the business of trucking.
     
    mnmover, Feb 28, 2012
    mnmover, Feb 28, 2012
    #5
  8. Feb 28, 2012 #6
    skateboardman

    skateboardman Road Train Member

    6,232
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    Jan 14, 2012
    flatbed heaven
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    he may very well need a power of attorney if his sister cant be there to lease the truck on. this is common, a driver will be given a power of attorney to for lease and registration only.
     
    skateboardman, Feb 28, 2012
    skateboardman, Feb 28, 2012
    #6
  9. Feb 28, 2012 #7
    Mr. PlumCrazy

    Mr. PlumCrazy Road Train Member

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    Jul 30, 2009
    Lexington NC
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    After paying you she wont have much profit
     
    Mr. PlumCrazy, Feb 28, 2012
    Mr. PlumCrazy, Feb 28, 2012
    #7
  10. Feb 28, 2012 #8
    dave26027

    dave26027 Road Train Member

    1,284
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    Sep 10, 2009
    Dallas, Texas
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    NEVER mix your family and your business.

    NEVER, NEVER, N-E-V-E-R.
     
    dave26027, Feb 28, 2012
    dave26027, Feb 28, 2012
    #8
    AdamT2k, Bill104, VisionLogistics and 3 others Thank this.
  11. Feb 29, 2012 #9
    Elroythekid

    Elroythekid Road Train Member

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    Sep 9, 2010
    Halifax Nova Scotia
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    DITTO... NEVER EVER, under any circumstance, think about, look down the road of, ponder the thought of, mull it around a little, check it out, or even ENTERTAIN THE THOUGHT of, going into business with family, at least any you like and want a long happy relationship with. I know, I can hear the flames now, "me and my (insert here) have been in business for ( pick a number) years and we do great". For every one of those storys, there are thousands who didn't make it.
    You have been warned!!! :biggrin_2551:
     
    Elroythekid, Feb 29, 2012
    Elroythekid, Feb 29, 2012
    #9
    Bill104 and dave26027 Thank this.
  12. Feb 29, 2012 #10
    blanco

    blanco Road Train Member

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    Nov 20, 2009
    Gwinnett County, GA
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    Again, bears repeating. Ditto. All the above. Etc
     
    blanco, Feb 29, 2012
    blanco, Feb 29, 2012
    #10
    112racing and dave26027 Thank this.
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