New o/o

I'm making a few assumptions for this first paragraph. Don't sign that paperwork on Monday. The companies make lease purchase sound like it's great but it's not. What you're about to do is make yourself an indentured servant to that company. I"ll bet you didn't have a lawyer review what your about to sign which means you won't know what your signing even if you read it yourself. Also, I'll bet you didn't write down any financial projections or make a budget. So you don't know how bad you'll be hurting in this deal after you sign. Lease operators tend to struggle to make it out of a lease successfully. You will probably take home less than a company driver for as long as you're in the lease. At best you'll make the same amount.

Ok, so now that you're going to do it anyway, you should be fine with holding back 25%. And you pay that quarterly; not at the end of the year. See, "How Do I Make My Quarterly Payments": http://www.irs.gov/Businesses/Small...oyed-Individuals-Tax-Center#QuarterlyPayments

 

First off, DONT SIGN!!!!. Do your research. There are many reasons lease operators fail. you are way more likely to succeed if you buy your own truck. Secondly, just figgure out how much you profit in your fist few weeks and extrapolate it out over the quarter.

 

i'm a little confused, the title says NEW O/O.

but it sounds like he's a new RENTAL OPERATOR.

i don't know HOW you people can consider yourselves O/O when the truck will NEVER be yours. and can be pulled out at any given time.

real O/O's don't pull freight for NINETY CENTS a mile either. they pull for $2 per mile.

so, if your loads pay $2 per mile but your only getting $.90 per mile. and your making the truck payments. why is the company keeping 60% of what the load pays????? (just an example).

your not a new O/O. your a sucker looking to get screwed.

 

Don't become a flease purchase guy. If you want to lose money that bad just stay a company driver and mail me half your pay check every week.

Adam

 

like mclane says. 25% paid quarterly.

 

As a business man should, put together a business plan with projections and go visit your accountant. You and your accountant are the only ones that can accurately answer your question.