Looking for a lease purchase company

I just utilize an accountant that gets me every tax break she can for me.

 

I have used an accountant for the last 3 years and one with 30 yrs exp doing taxes for truckers and it seems like I've always had to pay 55 to 6500 per year in taxes.

Is this normal? I'm in Texas

 

You should prepay estimated tax quarterly. That's what I did. Also 100% of lease payments are write off. Much better than the depreciation write off you get from buying a truck.

 

About right, provided you're pulling around $55k net and single, $62k if married and no kids.

 

Different strokes for different folks.....

Can you make good money being a company driver....YES
can you make good money in a L/P.....YES
can you make good money O/O......YES

its all about money management......i cant tell you how many guys i know where i live that drive a truck and come home BROKE for their home time....then they come at me with the "man i dont see how you stay out 3 or 4 months at a time" CAUSE I REFUSE TO BE BROKE! If i dont save 6 to 8k in 4 months of running while being a COMPANY DRIVER im doing something wrong

 

And speaking of an amazing tax guy....i know one that is extremely good at trucker taxes...if you live in the southeast tenn region or north ga....id be paying him a visit...

 

I'm on a dedicated target account running from il to tx then back up so it's around 2k for a round trip and I make 2 trips a week. this account has the most miles out of any Fleet with dart

 

Who are you lease on to

 

I have photo copies of both titles if you think l am telling a tale.

 

May Trucking, Brooks Oregon. I add that l have no idea if elog will hinder a lease purchase or not. Had l not retired, l would have bought a 1999 or slightly older truck and rebuilt it as needed. Both of my last two Freightliners were pre EGR engines. I am totally against the EGR system in theroy and practice. Mixing burned exhaust with fuel and air is ignorant. It may get lower emissions but it causes more fuel to be used / lowering mpg.

My other point is: Why let some self appointed "expert" convince you that a successful lease purchase is impossible. Going into business for yourself is a gamble. Trucking is a rough game. A successful lease purchase will establish your commercial credit rating. From there you can invest into purchase of a new or newer truck, getting your own authority--- what ever YOU desire as your goal in trucking. I ran the '59 Pete in my avatar from 1984 until 1991. I operated under my own PUC authority in the state of calif. I drove , maintained my truck, did billing and collection and kept records for tax purposes. It was a lot of work. It took all my time. I found it more profitable to be leased to the company and l could have some time for a life outside of work. Good luck with your choice.