Buying my first truck, should I form an LLC?

It costs about $100 to file with the state as a LLC, if u do it yourself. Become your own “registered agent” and it’s $30 a year to renew. In my local state at least. It’s simple paperwork. U don’t really need it though. But if you do it yourself it’s the around the price I mentioned above.

 

DD 15? It's a good engine in my opinion. If it didn't have a dpf it would be my favorite. Here's the deal though, these things hate to idle. I lived in a truck for seven months in North Dakota while working nights. If you're running nights slap a winter front on when it gets below freezing. They run hot to burn up that soot.

If you start noticing that you need to do a parked regen often, you're doing something wrong. I had to do one for the first time in over a year on Friday, I got some contaminated ded, that parked regen is like a code clearer for the dpf system. If you don't know how to start one just swing by any Freightliner, they hand out those cards like candy.

That's all I can think of off the top of my head but I have years of ####ing up with this engine and if I could save someone a headache I'll help out

 

I had that old school mentality that trucks could just idle all day. I'm probably 20k in repairs from being stupid

 

It's a bad time right now. Some companies are going under. I would wait 6 months then we should in the bottom. The truck will be cheaper than. Yes an llc under the Scorp will save you money. You can pay yourself 35k which will have both sides of social security payments. Then above that you won't have to pay and you will save 15% on your taxes.

 

Happy for you but im hoping for good luck when i get this 19 mack.when its two years old. Both in the same boat

 

Congrats on becoming an owner operator.

I can tell you that an s-corp is what I have. You can do an LLC also, it's a little less bookkeeping. Do NOT stay a sole proprietor unless you like paying MORE TAX than you have to.

Most people think you can not get sued with an LLC and that's not true. It just means that the IRS requires less from you like keeping records of your minutes for example. Regardless you're driving the truck so worse comes to worse you'll get sued on a personal level.

Find an accountant that can explain s-corp vs LLC and see what fits you best.

 

But only the smart people are not listed as owners of their LLC but only the member manger of the LLC. Gotta think out side the box. And if you want to parade around and tell people you are the owner you better have your business separate from personal or the lawyers will eat you alive.