Lease Purchase vs Company Driver

ok thanks for the advise Nococraig ill check them out.

 

Well when I started the contracts for the payments were alot lower, now it seems rather high, but you will have it paid off in 2 yrs, the final balloon payment is covered out of your maintenance reserve at the end of the contract. The biggest thing Ill stress to you if your going to get your truck is your fuel!! The slower you run the better you can stretch out your fuel to last longer, If your going to hammer down everywhere, you find yourself putting alot of your potential take home pay right back into the fuel tanks.

As for the Title USX will give you 1month with the L # , to take care of your paperwork, they will send you a package in the mail with a Bill Of Sale receipt, Original Title ( still with USX name) and I2290 FHUT, these are to be submitted to OK Title Registration consultants (for a fee Money Order $80) who will get a new Title at the OK courthouse done , took them 2 weeks to take care of that and for me to receive it in the mail.

Hope this helps you out, and good luck

 

yes you can make money with the loads, its got to be consistent miles to make truck payments, and insurance and misc charges, before you can see any take home pay..

 

Thanks CharlieMoon77 thats what i wanted to here i guess usx is where im going to go. Again thanks for the advise i really appreciate it.

 

your welcome

 

That was an example of the excellent and topic and fact related advice that you and Anne have become known for. You might be able to guess who this is by the city and screen name...wishing you miles and miles

 

Did anyone mention the per diem for a lease driver which goes into the
Meals and entertainment expense box of the schedule c.
About 15000$ a year coming straight off of the taxable bottom line.+ half
Of your ss taxes.open a sep 401k and deduct all of that.smart driver pays
0 income taxes.

 

Hey JWP1, hey that is even more specific and great info, amazing thing is; I actually understood some of what you wrote.

 

That per diem is for any driver. It amazes me how many I've talked to that don't deduct that on their taxes.

 

Yep, makes a HUGE difference in your taxes. I may be wrong on the amount but I think it is about $59 a day (each if you are a married team) TurboTax has the option and you just tell it how many days you were out on the road for the year.