Really sorry for the newbie question...

If I have my head screwed on straight, the calculation for the NUT on a leased truck is the sum total of the (annual fixed expenses (Lease, Fees, Permits, Insurance, Workers Comp, etc)) divided by (Revenue less variable costs (Fuel, Tax, Maintenance (Not Account, actual maintenance), Scales, Tolls, etc))

Profit is everything above that line. Out of profit, you expense Per Diem to the driver; then pay (including roughly 25% hold-back for Income tax.

Out of the remainder, you would hold-back for a maintenance account and/or a capital savings account. The remainder from that is income to the business/driver.

So where did I screw up?

 

I need to make that distinction at tax time. For the purposes of the example; I need to know if I can generate a profit from Revenue less all expenses to make the evaluation on whether a LP or OP works.