Taking the plunge. My journey as an O/O.

Discussion in 'Ask An Owner Operator' started by Farmerbob1, Jan 7, 2019.

  1. Farmerbob1

    Farmerbob1 Road Train Member

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    Started pulling together tax information, but I had a tard moment and left my old laptop with last year's tax data on it in Atlanta when I left to go to South Carolina.

    My 1099 from Crete showed 162k income. My expenses documented in my end of year December Profit & Loss statement by the accounting company do not include what I spent on the engine rebuild last year, so i need to get that straightened out as well.

    So, no 2019 numbers yet. I have not forgotten.
     
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  3. Rideandrepair

    Rideandrepair Road Train Member

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    Well, 162k is a good number, I can tell you right now, you made more than if You were a Company Driver. Next year, you should do better, and keep more of what’s made. Glad to hear,162k, not bad at all.
     
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  4. Scooter Jones

    Scooter Jones Road Train Member

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    162k gross revenue I'm assuming? Before all expenses.
     
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  5. Scooter Jones

    Scooter Jones Road Train Member

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    That was your target after 1st year. I will be interested to see how that worked out.
     
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  6. spyder7723

    spyder7723 Road Train Member

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    Gross means absolutely nothing. 162k gross at his mileage rate which is what? 1 buck thirty after fsc?
     
  7. Rideandrepair

    Rideandrepair Road Train Member

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    I know his mpgs are good, so I’d say 162 minus fuel costs, should come out pretty good.In this current environment, With the setbacks he’s had. I’d say he did real good. And should do even better next year. He’s had realistic expectations, worked steady at it. I don’t think He expects to get rich. My guess is he put $62-68k in his pocket. Not bad for a first yr. O/O. I’m talking real #s, not Truckstop Counter BS. I’ve seen enough of those Big Timers come and go.
     
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  8. spyder7723

    spyder7723 Road Train Member

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    With out knowing for sure what the rate is we can only guess what the net is. However I will strongly disagree with the "should do better" part because on a fixed cpm contract there is no potential to do better. 3k miles a week at x cpm equals y gross. Y wont be a higher number next year or ten years from now when x cpm stays constant.
     
  9. Farmerbob1

    Farmerbob1 Road Train Member

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    Not so sure about that. I had a lot of repairs to catch up on Crete deferred maintenance, then there was the engine rebuild, etc. I think I probably made less than I did last year, but that's really not terribly surprising with the rebuild + hotel + lost time over a period of a month.
     
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  10. Farmerbob1

    Farmerbob1 Road Train Member

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    I'm pretty sure I'm going to have to extend to the fifth quarter due to the engine rebuild in November / December. I doubt I hit 66k last year. We shall see after I finally collect everything and get my taxes done.
     
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  11. Farmerbob1

    Farmerbob1 Road Train Member

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    I could do better this upcoming year, if the truck doesn't need so much maintenance. The engine rebuild and the lost time and hotel stay that it caused destroyed my fourth quarter completely.

    I've started out this year with a few oil and coolant leak issues that are external to the block. At least some of those issues are certainly connected to all the work done on the block, as old pieces and parts were removed and replaced.
     
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