Driving for owner op at landstar

you said you are a company driver, and your going to drive his truck, so that means hes running the business.. if you want to book your own loads then buy your own truck

 

ok i didnt read that part my bad

 

He's paying you a percentage, BUT unless he is paying you as a COMPANY DRIVER which means taxes withheld then your a 1099....
I don't know the full story so are you going to have taxes withheld or 1099?

 

26% isn't a very good wage on 1099 unless he's also throwing in accessorial pay, detention pay, and some health benefits.
There are better jobs out there.

 

ok then here is an example for you.. I live in VA and the state tax is 4%, Federal is 24%..

Now say for example you gross $85,000 using his truck.. at the end of the year you are going to have taxes of $23,800... So unless you can show additional write offs and additional pay like detention pay, holiday pay, etc... Its gonna be a huge bite at the end of the year unless you save your money for Uncle Sam

 

I'm not trying to burst your bubble by no means but I'm trying to save you from what I have already experienced...

 

I'll let people pick there own freight as long as they make the performance expectation.

As far as 26% goes, one of the oldest rules of thumb is 25% for the driver, 25% for the owner, 50% for the truck.

My revenue to the truck last year after LS was $230K.

So that would put you at about $58K for the year.

I have it so you'd make about $100K.

But I'm an idiot, my guys are idiots, Landstar is bad, and everyone has something better, or there is something better. Please ask them to list the places.

The only thing I will promise you, is you will get it shoved all the way up your ### on occasion, through no fault of your own.

Actually probably get my own authority within a year.

The handful of agents I really like will use me as Landstar contracted carrier, so then we keep all the money.