Leasing onto landstar from Dallas/Fort Worth

Well let’s see here.

1. The insurance LM is asking for is probably phisyical dameage, gap insurance and bobtail insurance (unladien). Because liability and cargo is covered by LS, so if they already know your going to LS then they shouldn’t be considered about those two. Physical damage and gap can be had through TrueNorth, which is the company they recommend me went I went through the LM program. I think I paid roughly $200/$250 a month maybe I can’t recall. Another place to check would be OOIDA, ask for an insurance agent, and give them the buying price of the tractor, and ask for a physical damage, gap insurance & bobtail quote. May be priced more competitively than true north. Helps to already be an OOIDA member though.

2. Paying in quarterly is recommend by the IRS but is not required. There is a small fee if you don’t pay in. I usually don’t pay in on quarter 1, but pay in on Q2, Q3, and Q4. The simple way of looking at it is to; take the amount of tax you paid in last year on your net revenue and divide that by 4 and pay that amount in quarterly on the IRS website as an “1040 ES” payment I think. (Estimated payment). This satisfies the irs. So basically, if you paid in $12,000 last year, you divide that by 4, which is $3000, and remit 3000 direct to the irs through the .gov site by the 15th of the month following the end of a quarter. You don’t really need a cpa to do quarterly fillings. But since you don’t have a business net income from last year to base your payments on, this year you could send in about $1500-$3000 a quarter if you want to play it safe. If you over pay you’ll get it back anyway.

3. Can’t help you on that one. The LS yard in Grand Prarie is pretty small considering the amount of BCO’s. Maybe try repair shops close to where you live, small trucking companies and etc

 

BCC/Work comp - $31.38/week
Bobtail/Unladen - $22.38/week

I pay $115/month on a $30k flat
$276/month on $50k truck.

That’s through Gallagher which is basically Landstar’s insurance.

Check First Choice also - buddies have had cheaper quotes there too.

We pay a CPA versed in transportation about $1400 to assemble and file end of year. Do your own record keeping and accounting during the year. I personally use Profit Guages - it’s cheap and simple for first time owner ops as I was.

Quarterly taxes are difficult the first year to estimate - I’d pay in $2000/quarter - it may result in a refund at the end of year.

 

Approach local business for parking - you’ll more than likely find something for a few bucks.

The homeless shelter is irritating. I go once every 2 or 3 years just for CABS and have to have a spot coned off - it’s ridiculous.

At least you can use your car to get there.

 

You should have applied to LS first before you get the truck, it will take time to get through the process, the truck is the easiest part to get through.

 

Good point - you are qualified to lease on to Landstar, right? It takes a while . . .

 

Dang what y’all doin on taxes my cpa keeps me from payin more than 1800 yearly usually less state and fed combined I pay him 1400 yrly files qtrly and end of yr and Corp taxes

 

Congratulations now you gotta wait 2 months before they call you... it takes them forever to get anything done. I applied there and I waited so long I gave up and purchased my own authority and went that route.
A month after I had my authority they called me and I said I was happy where I was. It took literally 2 months for that lady to call me.

 

CPA I used a trucker tax service and cost me over 30000 in 3 yrs taxes cpa cpa cpa