Life at American Central Transport (ACT)

There is bridge construction in Louisville, KY on I-65N all trucks going to Indiana must use I-264W detour. Heard some guys on radio saying its a $259 ticket if you dont take the detour.

 

Dunno about Pete3871, but here's how I read that post. While the overall rate on the purchase of a truck vs. leasing a truck showed that purchasing was cheaper, it didn't take into account the cost of the APU and the other costs covered by the lease @ ACT. Those things plus the tax benefits of leasing vs. depreciation is one of the things that make leasing more attractive to us.

*MOST* businesses lease their offices. They don't buy them. Your truck is a rolling office. I have enough experience in small business to know that. Other's have made comments (in other threads) about "but if the A/C goes out or the roof gets a leak...the OWNER pays for those"....NO. They don't. At least not according to the 4 contracts for rental space that I have been involved in. The building was covered in the case of catastrophe, but by and large the lessee is responsible for maintenance in this state. This is how we are looking at the White Truck. (Doesn't have a name yet, and I sure don't remember the truck number, LOL).

 

wow .....you can depreciate any asset no matter how you purchase it ....pay cash you can even take a larger chunk in the first year or how ever you want on schedule .....not that i am not saying you might be better in your situation to lease but there are different business models most large companies were leasing trucks not for the financial benefit but to bring down their largest cost which was labor they thought if they had pretty new trucks every three years they would be able to attract and keep drivers longer plus they did not trust "company" drivers to maintain trucks as well as someone that owns it which is true .....

that is my understanding at least

 

Day 1 of orientation is over. Went well, everyone seems laid back and easy to talk to. So far so good

 

Yes, you can. But everything has a limit to the amount of time over which it can be depreciated. Buildings can be depreciated over 30 or 50 years (I can't remember). And someone said that a truck can be depreciated over 3 years. (I'm not sure of that, in other endeavors, I've taken 5 years to depreciate vehicles, and I need to get more current on that particular part of the tax code.) But over the life of the lease, you can claim the lease payments, and then if you do the buyout, then you can depreciate the purchase at that time.

 

Most vehicles are five years. "Road tractors" are a three year asset.

If you purchase an asset like a tractor, the IRS does not care how you pay for it. Cash or financing have no bearing on depreciation. The thing to consider though, is if you purchase a truck, and keep it long enough to take the full depreciation, and then sell it, the IRS will want to recapture some of that depreciation. (Many drivers mistakenly refer to this as "capital gains.") You never have to worry about a recapture of lease payments.

DTB, are you guys at ACT now?

 

Here's what I looked at, Marine. This thread is over a year old. If he wasn't accurate in what he has posted, I am very sure many people would have come back to this thread and called BK out for lying to them. But what has happened is the exact opposite. Many people come back to this thread and verify what they had heard, and some have even started their own threads. I looked at the "Discuss Your Favorite Trucking Companies Here" section, and it seems to be dominated by ACT threads. Not bad for such a small company. BK recruited me from this thread, and since I have nothing to gain from you, because I am not here to hijack recruits, I can tell you that I am impressed with the company after a month, and it seems everyone has been 100% upfront about everything.

 

I've know BigKid for quite awhile now... two companies back for him. From my point of view, he's just posting how it is. If you happen to sign on with ACt and send a referral bonus his way - good for him.

 

Yes, we are.