You aint gonna believe this... Yet Another Ic Choice thread move over DFO!

Yeah. I'm going to use it and I will start 2015 with my settlement dated 1/1/15 coming this week.
I'm just going to let the free trial at ATBS run out, then maybe use them to prepare the returns. I pretty sure ATBS charges $290.

 

You win some ... you lose some. Been there done that.

 

Sorry to bother on this, but I'm starting the Choice program next week and looking at your numbers, even without the last trip, how do you get DOWN to $280? I ran the numbers with my truck to see what the difference would be, using your fuel costs, (looks like about 2046 miles and 2772 revenue), and for me without the Schneider finance bill, just my $370 a week truck payment and $130 for insurance and permits ect, plus 15 cents per mile maintenance, I get about $1275 net, (-20% tax would be about $1020), so even with another $650 or so to Schneider that I assume you are paying, how do you get to $280? Looks like you should be at about $575 at the least, right? Not trying to stir any pots or cause problems, just trying to understand the numbers you are posting. Thanks in advance!

 

you have a CHEAP beater truck payment.. that's the difference.
plus don't forget the maintenance account

 

Umm, that's why I assumed an additional $650 to Schneider. My maintenance account .15 cpm, + $100 a week. I assumed this in my question. What am I missing?

 

"beater truck"...? Still ridin' up on that Kenworth T680 high horse ain't ya?

 

It really doesn't matter what kind of tractor you get. Whether it be a cheap beater or a brand new truck, you're payment is ultimately going to be close to the same.

Difference is on the new tractor you are paying almost all the money towards a payment and a small amount to the maintenance account. On the used truck you are paying close to the same payment, but much less goes to the actual truck payment and much more goes into the maintenance account.

 

Well, that's the gamble. With new truck I'm guaranteed to pay a certain large amount for that new truck and warranty that goes with it. With an older used truck (beater truck), my payments are a lot lower and I pay more into my maintenance account. The gamble is that if my "beater truck" only needs routine work done on it and the occasional bigger repair, I come out way ahead. Paying .15 cpm + $100 per week into my maintenance account I build up close to $20k every year in the maintenance account. So, $370 Truck Payment +$130 Permits/Insurance/Plates +$450 Maintenance = $950 Fixed costs when running. If I park for a week, my obligations drop to $500. Unless I need a complete engine rebuild every year, my take home will increase even more because I intend to cap my maintenance account at $20k. I have $10k in the maintenance account already, so my gamble is that I can build it to the $20k and keep the truck running and maintained and then let the truck pay me even more. But that's the GAMBLE! Giving up a "sure thing" with a new truck, (unless you get a lemon), and hoping something better is behind curtain #2!