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Good time to become O/O?

Discussion in 'Trucker Taxes and Truck Financing' started by Steel Dragon, Dec 16, 2017.

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  1. Dec 16, 2017 #1
    Steel Dragon

    Steel Dragon Road Train Member

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    Nov 23, 2015
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    :biggrin_2554:
     
    Steel Dragon, Dec 16, 2017
    Steel Dragon, Dec 16, 2017
    #1
    Oldironfan Thanks this.
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  3. Dec 16, 2017 #2
    Mattflat362

    Mattflat362 Road Train Member

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    Feb 18, 2015
    Avon Lake, Ohio
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    Listening at 2 speed now...
     
    Mattflat362, Dec 16, 2017
    Mattflat362, Dec 16, 2017
    #2
  4. Dec 16, 2017 #3
    Mattflat362

    Mattflat362 Road Train Member

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    Feb 18, 2015
    Avon Lake, Ohio
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    Meh...
     
    Mattflat362, Dec 16, 2017
    Mattflat362, Dec 16, 2017
    #3
  5. Dec 16, 2017 #4
    Oldironfan

    Oldironfan Road Train Member

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    I'm not to happy right now. That gave me more questions.
     
    Oldironfan, Dec 16, 2017
    Oldironfan, Dec 16, 2017
    #4
  7. Dec 16, 2017 #5
    Steel Dragon

    Steel Dragon Road Train Member

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    Tax rate going down for llcs...can't be a bad thing...
     
    Steel Dragon, Dec 16, 2017
    Steel Dragon, Dec 16, 2017
    #5
  8. Dec 16, 2017 #6
    Oldironfan

    Oldironfan Road Train Member

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    So it's bad of I'm some proprietor? I need to get EIN # and LLC?
     
    Oldironfan, Dec 16, 2017
    Oldironfan, Dec 16, 2017
    #6
    Steel Dragon Thanks this.
  9. Dec 16, 2017 #7
    kemosabi49

    kemosabi49 Trucker Forum STAFF Staff Member

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    SW Arkansas
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    You have to have an EIN to file your HVUT.
     
    kemosabi49, Dec 16, 2017
    kemosabi49, Dec 16, 2017
    #7
    Steel Dragon Thanks this.
  10. Dec 16, 2017 #8
    Oldironfan

    Oldironfan Road Train Member

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    HVUT is What? Do I need a Manual?
     
    Oldironfan, Dec 16, 2017
    Oldironfan, Dec 16, 2017
    #8
    Steel Dragon Thanks this.
  11. Dec 16, 2017 #9
    BrandonCPA

    BrandonCPA Bobtail Member

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    Dec 16, 2017
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    This is a great time to be an owner operator. I would encourage anyone to do so. I would form an LLC and get an EIN for privacy and taxation reasons.
     
    BrandonCPA, Dec 16, 2017
    BrandonCPA, Dec 16, 2017
    #9
    Steel Dragon Thanks this.
  12. Dec 16, 2017 #10
    Freddy57

    Freddy57 Road Train Member

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    Nov 29, 2013
    Mount Vernon, MO
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    Get your CDL, lease purchase a truck from your favorite carrier and money will fall into your pockets like rain from the sky!
     
    Freddy57, Dec 16, 2017
    Freddy57, Dec 16, 2017
    #10
    Brickwall, jammer910Z, Roger McG and 3 others Thank this.
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