Attention all rookies and wannabes: Local Jobs for New Drivers

I'm so glad I came across this thread. Thanks for some of the best info on this whole forum.

 

Please provide a link/citation from an IRS webpage to support your claim. I admit I am not an expert in the area of Tax, much less trucking tax law, but I have 12 hours of tax courses amoung my two bachelor degrees and all state that a payment on principle is NOT deductible--you home mortage for example.

Now, for a LEASE payments, this is trickier and I am not certain as to how these are handled. Rentals are easy--100% of the rental payment.

Well, if you never heard anyone confuse Net Income and Cash Flow, just speak in to a tape recorder and then play it back. What you have typed above is a textbook case of CASH FLOW. Writing off your truck principle payments understates Net Income and overstates expense. Again, please provide the link that allows the truck principle payment to be deducted.

You may be confusing the truck principle payment being deducted with the Truck Depreciation deductions. You are allowed to depreciate your truck thus lowering you tax burden. However, the truck's given depreciation is seldom the same as the truck's principle payment.

Moreover, most incomes given in advertisements are 'before tax' amounts because seldom to two individuals have similar tax burdens (family, living in NYC, kids, etc)

Finally, does your accountant tellyou that he is writing off the principle part of payments? Or perhaps, you a assume such. It is mostly likely the depreciation he is writing off as I mentioned above.

 

I see that. 100% of lease payments, which include interest, are business expenses. Ditto operating expenses (tires, fuel excluding surcharge payments, insurance, permits, tools, tolls, repairs not fully covered by warranty, maintenance, supplies, etc). It's all deductible. We're not talking about home mortgages.

No, it's actually a real-world example of net income after all is said and done. Think of it as the April 15th number.

A driver who leases a truck cannot depreciate it because he is not the owner. He's basically renting it (see "100% of the rental payment" in your post)

All. Not most. Of course they can't know your situation.

Again, a driver who leases a truck cannot depreciate it.

Now read bullhaulerswife's post. She knows what she's talking about.

 

Well 40k take home in a year is good money after all is said and done. I'd have to gross 70k to bring home 40k in California as a company driver.

 

No wonder the Chicago Craigslist is loaded looking for O/O container truckers. I had no clue that containers were so daunting. Is not searching for a van trailer in a ten acre yard similar?

 

Hiya Saxo,

I just got off the telephone with a recruiter for Conway in my area. While it is true that Conway accepts 'recent graduates', they really only accept a certain few of them. The reason that so few are accepted is because Conway has their own little 'secondary CDL-education' about how to hook up trailers and such. Hence, this is a pretty big 'asterisk' for their recent graduates claim.

Should be : We hire recent graduates*
* - provided that there is space for them in our schools

 

I learned how to couple-uncouple in school. Unless they have a special protocol that they use I can't see how different it would be anyway.

 

You can deduct the whole payment not just the interest

 

That really depends on the company policy don't it! some are quite happy to hire new recruits others don't have the time or personal to train and teach so they will only hire experienced personal