Getting My Own Authority

Company in Cumming, Ga called truckstartup.com I think. Around $500 and they are supposed to do all the initial paperwork. I am sure there are other companies that do the same thing.

 

I got mine this week. (Still waiting on plates, 2290, and KYU). I had a company help me with a few things, but frankly it's mostly just studying up and filling out some forms online. If you run into something you're unsure of make sure to stop and study up, don't guess ! and print out everything !

 

I got my own a few weeks ago. It isn't impossible to do while still running in a company truck until it goes through, but it can be tricky if you can't get home when you need to. I've done everything I can outside of going to Springfield so far. Hoping to line up some time to stop by on the way to Wisconsin from St. Louis

 

I am new to this, so excuse my ignorance, but when you authority, are you asking how to set up your company? Like getting you LLC or S-Corp? Then getting your DOT numbers?

I am a new trucker and starting my own company also.

 

If you join OOIDA, upon request, they will mail you a booklet explaining everything that happens in the authority process. In my opinion OOIDA is a great resource for info and they fight for the rights of truck drivers. Worth the price of membership tenfold.

 

My rule of thumb was this:
Don't pay anyone to something that you can do yourself.
That being said, I completed and filed my LLC paperwork and everything involved in getting my Authority. The only thing I had to get help with was the BOC-3. You can also get your Tax ID number yourself as well.
Doing this yourself in my opinion keeps makes you more aware and informed regarding your own business. Granted, this takes time to research and such, but well worth it!

 

The right professional help can be worth 100x what you pay for it. Hardest part if figuring out what you need help with and the right person to help.

Great example, was ready to file my LLC when meeting with accountant at $50/hr and when this came up we learned how much more complicated an LLC was to file on taxes compared to S Corp. Plus in most states the LLC is more expensive.

We then paid $125 to have a company file the S Corp and do all the follow-up. Total time filing was less than 10-mins vs. the several hours we would have spent doing things correct on our own. Well worth the $125.

But doing our own authority was simple and easy and the $300 that some want was a bit over board. But join OOIDA. They are great for answering questions.

 

Being on both sides of this and a carrier that is focused on helping my O/O achieve independence if that is the direction they want to go to I will caution you on making a decision based solely on the percentage.

Apples to apples (being able to get the same loads at the same rate) you may find it hard to make much more than what you are making now paying 12%. I agree the 20% group is getting a bit over priced.

I am one that promotes independence. But for a straight shooting carrier, very little profit at 12%. When you are independent you will have increased insurance costs, billing, collections, cost of money used, a lot of lost loads because you are driving vs. looking at load boards, etc.

And if you are going to have to factor the forget it.

At 12% I would say you really need to understand the costs and time associated with being independent if it is just a money thing. If more is going on, like taking cut off top, bad company safety rating, up-charging insurance then it becomes a easy decision.

Again, not trying to push away from independence. Just talk to more independent O/O's that jumped before understanding all that it takes to be successful. Now they want to dump authority.