Schneider choice program orientation and getting truck Schneider finance

Could be doing 70 but this is about 60 give or take.......don't forget you are paying down the truck and someday you will own it and then can add another $650 per week onto that.....gotta start somewhere !

Owning your truck can't be all that bad....there are a zillion guys out there doing it.....

 

i spoke to a lady that runs small businees doing trucking booking and & taxes statements with ifta miles for each state. Also alot more in trucking business.


She used to do it far a big company. One day she quite and started her on.


She'll set you up in FACE to Face first and only meeting you will have to be present for everythang else is done over smart phone or computer.


First she set up a business baNk account,cards, check book ect. If you will allow her to she can pay everythang for you truck payment,insurance & payroll.


She help with SETTING UP your llc. So you want be sued for your home,bank account & truck ect.


She'll set you up on payroll to pay your self. Your choice $ 400 to 1000 to pay home bills. Which souldn't be pay out of company account. But remember its a business. Most goes to truck.


Being on company pay roll can set you up for company bonuses, birthday,christmas,vacation& safety. Which are non taxable.


She said that we could show a complete loss for 3 yrs as start up cost. Save all receipts for everythang. Which at first want be for from truth.


Really everythang listed hear on this thread is tax write offs. Everthang bought for the truck is a tax WritE off. Everythang.


Even health insurance is tax write off. Company can offer insurance to you at no cost,then write it off.


Laptops computer, phones,cb, Hot spots,tv,blankets,pillow,shoes,jacket,spare tire.


You even get a automatic in trucking only from the irs free of charge for food,drank & tips. At $ 57.00 aday TAX DEDUCTION for everyday your a 100( i beleveive) miles out from home. Who eats 57 aday. Savings.


Your once a year dot inpection sticker write off. Any maintenaces & repairs write off.


Some truckers have home office at home tax write off for that space.EVERYTHANG IN THAT OFFICE. This is pretty tight area with irs. Just got to get it right. Some say this throws uP a red flag.


There is even a way to write off the loss for money you could be make when your broke down. She was telling ME about it. Like if the road IS BE repair being done in front of your store for aweek in no traffic get in are goes around. Income loss write off. SAME THANG Dont go crazy.

Most of your fuel will be paid for in fuel surge charge. The department of enery post fuel cost weekly this is how fuel surge charge is figured. There is a complete thread on this right hear on trucker report.


There is so much more to trucking then driving. I can tell you much more. But do your reserch. Youll be amazed. Cut those loss into tax breaks.


A few that was willing to talk.TOLD me if do right at the end of the year you want have to pay any taxes. It all goes back to the company.


This IS why you see old school truckers go in the shop at the end of the year or the beginNing. To get all that maintenaces done dot,pm,tires & ect. Write offs.

Even the truck payment is a write off. Hick the deprecition of the TRUCK each year is a write off.

Next time you need to rent a car,plane,train or bus to go home. Write off.

I was told a story where one of her trucker took a vacation in hawaii that didnt cost a dime.

Went like this. Got a load to long beach ca. Part in rent a lot. Plane to hawaii. Stayed a week in hotel. Had fun came back.

Parking lot write off. Plane write off. Holel write off. Other exspence cover by the load he ran to long beach.ca.

Plus he gets a vacation bonus which could be wrote out to cover all cost from the company. Why not have you seen some of this ceo bonus checks. Im talking vas veags mad money.

Just remember its a business first, than after awhile home paid off, new car & new truck.
Please dont forget about retirement.


This isnt free money. Just away to cut your cost of doing business.

My not o/o but im reserching to be one. Be safe go home see your familys. From hear to there ill see you.

 

Thier is one thang that stuck in my mind after talking to a o/o about l/p or bank note.

Your truck your payment.

If you get hurt cant drive ( a fall,broke leg) no payment

cant pass dot phyiscal( high blood pressure) no payment

miss a dot randem. Cant drive(sap program) no payment

dui cant drive(sap program) no payment. There isnt to many insurance companies that touch a preson who failed dot drug test or dui. If so ssky high.

Check you contracts might be clause if these thangs happen broke lease. No truck no money.

Some might even say you get fired for the company your working for broke lease no truck no money.

That means even company policy. 15 mph speeding ticket fired.

Just throwing it out there. Somethang to know about.

 

I honestly would NEVER bother running my own truck for @$1k a week. That is company driver money IMHO.
Granted, I dont swing doors, and honestly wouldn't get out of bed for @$1k a week. That is mind blowing to me, sorry.

Martin

 

Brilliant. Most people don't realize everything that can be deducted and written off. They just look at the mileage pay and go nope can't do it. Gotta be business smart as a truck is a business. If guys would stop running it like a high paid company driver I think you'd see a lot more people succeeds in the lease/op and o/o stuff out here.

 

But your not working for $1000 a week. That's just the in pocket profit after everything else has been paid. Truck payment, insurance, etc etc. gotta start somewhere. Think every company you deliver to has always made ten of thousands of dollars in profit a week? No way but ya gotta start somewhere. If after all my bills are paid I can put some money in my pocket at the end of the week that's a good week to me.

 

I would love to see someone plead their case to an IRS agent over a vacation to Hawaii.

 

This is how I feel as well. If I was only going to make company drive pay I would drive a company truck. No risk involved in that.

 

Bud, I have been at it far too long, to have to listen to someone tell me what the definition of "profit" is. My statement stands, that is company driver money, NOT owner operator money. I thought Prime was the only outfit that called that good money.
Tire blowout with a road call? Broke for a week.
Brakes needed? Oh oh....
Too many other scenarios to list here, but needless to say, $1k a week doesn't cut it to those of us that have been around long enough to know better.
So, in your book then, making "some money" at the end of the week is good enough to take the responsibility of running your own business? Think I'll leave that one alone, considering I get paid percentage.....

I was going to reply to that one, but honestly couldn't be bothered when I saw the posters experience level.
Sorry, but after 22+yrs of self employment, and never been audited, I'll stick to my way of doing it.
Self employment is a game at tax time, and those of us that have been somewhat successful at it know exactly what I mean. I doubt anyone could post that they ONLY claim 100% direct truck expenses, and nothing else. But a trip to Hawaii? Good luck with that one....

Martin

 

Leasing a truck is not really an expandable business. As there are only so many miles you can drive in a week. Yes you can lease another truck and put a driver in it but then what's left for you? Pennies? That's the thing you make the same or less than a company driver with much more risk.