I thought I'd start a thread about my 2017 as an O/O. Overall it was a good year. My maintenance expenses were what killed my net though.
I pull tankers (leased to a company) mostly on a dedicated run with some other runs when my customer gets slow.
My truck was down for 6 weeks for an overhaul, so I drive a company truck during that time. I don't have exact miles, but I'm guessing around 12,000.
Total miles in my truck 86,000 + 12,000 (company) 98,000 total.
$201,000 gross income.
$45,000 in maintenance
$42,000 in fuel
$4200 insurance both BT & OCAC
Total expenses $124,000. (Includes truck lease payment and any expense I can write off)
Not the greatest, but certainly not horrible overal.
2017 Income & Expense Review
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I am still lurking in the shadows, reading as much as I can, I am trying to get ready to go out on my own, Been out on my own back in the 80,s and that was not to bad but went into being a lineman for telecommunications companies during the building of the late 80,s and early 90,s, . I love all the information I am getting on this forum, When I get out I want the cards stacked in my favor so I will keep on lurking and learning. Numbers like this will be kept in a folder to keep in mind, I do not expect everything to go right off, there will be a learning curve again. But more please.Pieter78 Thanks this.
Truck payment was in the total expanses. It's $1,320/ month. Structured as a lease, so I can write off the total payment.
I'll post mine here too. Am also tank yanker leased to a company (% pay).
Total Gross: 167,617.91 86,601 miles
Plates + Ins: 4784.96
Health Ins: 4800
Truck Payment: 14,400
Total expenses $134,365.65
Business Profit before tax: $33,252.26
I'm set up as an S-Corp so my biggest expense was my employee (me). The $57,200 is what I paid myself and the payroll taxes and processing fee. Not as good as ChicagoJohns but I'm happy with it.
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