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????? looking into becoming an OO ~~~Merged

Discussion in 'Ask An Owner Operator' started by t_rex500, Nov 10, 2007.

  1. Nov 10, 2007 #1
    t_rex500

    t_rex500 Bobtail Member

    3
    0
    Nov 10, 2007
    Cape Coral,FL
    0
    Hello!I have been driving fo 10 yrs and am looking into becoming an OO
    I have a question..
    How do I know what to hold out for taxes on a weekly basis.I think I got the rest almost down.I'm going to take the rest of the year and run my Co. truck as if it were mine.I'm hoping this will work.
    Thanks for any and all advice
     
    t_rex500, Nov 10, 2007
    t_rex500, Nov 10, 2007
    #1
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  3. Nov 10, 2007 #2
    Captain Canuck

    Captain Canuck "Captain of the Ship"

    854
    541
    Apr 7, 2007
    Woodstock, NB, Canada
    0
    Maybe you should post this in the "Ask an Owner Operator" section.
     
    Captain Canuck, Nov 10, 2007
    Captain Canuck, Nov 10, 2007
    #2
  4. Nov 10, 2007 #3
    t_rex500

    t_rex500 Bobtail Member

    3
    0
    Nov 10, 2007
    Cape Coral,FL
    0
    I am thinking of leasing a truck through the company i work for. I am not sure how to figure on what kind of monies to hold out on a weekly basis,for taxes and other truck expenses?
    All any advice is welcome.Thanks
     
    t_rex500, Nov 10, 2007
    t_rex500, Nov 10, 2007
    #3
  5. Nov 10, 2007 #4
    heyns57

    heyns57 Road Train Member

    2,209
    1,011
    Dec 30, 2006
    near Kalamazoo Speedway
    0
    When I was an owner operator in the 1970s, we set aside a nickel per mile for major maintenance and tires. How times have changed!
     
    heyns57, Nov 10, 2007
    heyns57, Nov 10, 2007
    #4
  7. Nov 11, 2007 #5
    Brickman

    Brickman Trucker Forum STAFF Staff Member

    12,907
    12,209
    Sep 17, 2006
    WY
    0
    Figure roughly 25% of what you pay yourself for taxes. Get a good accountant!!!!!
     
    Brickman, Nov 11, 2007
    Brickman, Nov 11, 2007
    #5
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