JCT

Health care is a major consideration for many workers today. When a driver becomes a lease operator he is usually on a pretty steep learning curve. Carriers offer many "perks or benefits" to their lease ops to help them make the transition from employee to independent contractor status(this is how all o/o's, lease ops, and I/C's are categorized for tax purposes); Discounted "group" insurances (medical, dental, bobtail, etc.) as well as volume discounts on parts, fuel, tires, labor rates, etc. helps a new lease op learn the biz without being crushed by all the fine details and costs.

Some of the biggest mistakes beginners make is not with holding enough taxes for uncle Sam, making their quarterly tax payments, realizing they have to pay self employment taxes (s/s, med, 15.3% of earnings), and inadequate insurance. Whether this be collision insurance on the truck, gap insurance, workers comp (occupational insurance), health insurance, or disability insurance. Each one of these is very important yet very few owner ops do carry insurance (or enough) to keep them in business in the event of an accident or debilitating illness.

 

Recruiter told me I would have to contact Aetna (i think it was) to get a price quote because everyone is different (smokers etc..). Aetna doesnt give any info to JCT, and it is a group rate.

 

OK JCT drivers, what's up. Two days without an update.

Have things gotten so bad you don't want to tell us about it or are you so busy you don't have the time.

With all my down time I need some reading material.

 

You got me on with Crete, what do you say we go over to JCT ? Or you can go first and then talk me into it.. I get so close but I always back off the last minute when it comes to Leases...
lol

 

Yes, they make it sound very interesting, but be Vawwy Vawwy Karfuwl!

It's nice to hear good things about L/P for a change. I enjoy following their stories. It's a breath of fresh air to see positive posts for a change (outside of that last little banter of the recent past).

 

Agreed. It is nice to see a good post about a lease/purchase deal.
I thought about it, but I wouldn't be making a whole lot more than I'm making now and getting home most weekends, so for me, it wouldn't be worth it.
The positives would more than outweigh the negatives though. Being able to pay a dollar and keep the truck would be my biggest positive.

 

Saw a beautiful JCT 09? T660 parked in front of the tag office here in Sapulpa this morning. Should have gone in and tried to chat with whoever drives it. Maybe s/he is a poster on here?

Andrew

 

A few things most new lease ops don't know is: Once you sign a lease as being "self employed", you now owe uncle sam $3,000 per year in self employment tax. You will be ok if you put back about 25% of your settlement to cover your taxes. A good tax man is a MUST. Get someone who knows the trucking industry to do your taxes. I have been been 2 different lease programs and you CAN make good money in them. RULE number 1. STOP THINKING LIKE A TRUCKER. You are now a business man. Every 1 mph you slow down, you gain 1/10 mpg. If you slow down from 70 mph to 60 mph, you gain 1 full mpg. That could put as much as $18,000 per year in your pocket. SLOW DOWN. Never sign a lease if the company is not willing to mail you a copy of the lease to look over. I have read all the posts in this thread and JCT looks pretty good to me.

 

So, would a company solo driver do OK?