2017 Income & Expense Review

Discussion in 'Ask An Owner Operator' started by ChicagoJohn, Dec 28, 2017.

  1. ChicagoJohn

    ChicagoJohn Road Train Member

    1,500
    1,361
    Jan 14, 2016
    Chicago
    0
    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.

    Biggest expenses:
    $45,000 in maintenance
    $42,000 in fuel
    $10,000 hydropak
    $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.
     
  2. pmdriver

    pmdriver Medium Load Member

    545
    754
    Nov 14, 2017
    0
    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.
  3. xsetra

    xsetra Road Train Member

    2,431
    1,982
    Aug 21, 2011
    0
    Good price for insurance. What is your mile radius?
     
  4. Gearjammer79

    Gearjammer79 Road Train Member

    1,288
    940
    Nov 25, 2017
    0
    No truck payment? And 6 weeks seems too long unless you rebuilt engine yourself in your driveway?
     
  5. ChicagoJohn

    ChicagoJohn Road Train Member

    1,500
    1,361
    Jan 14, 2016
    Chicago
    0
    Oh was a giant flustered duck. Bad head, it took 5 heads to get a good one, everyone was rusted. Same thing with the cam, took 4 to get a good one. Mechanic was on vacation a week and so was I. I dropped it off at Mack last week of May and picked it up after July 4th.

    Truck payment was in the total expanses. It's $1,320/ month. Structured as a lease, so I can write off the total payment.
     
  6. ChicagoJohn

    ChicagoJohn Road Train Member

    1,500
    1,361
    Jan 14, 2016
    Chicago
    0
    700. OCAC is through company. BT runs around $1,200 year I think.
     
    xsetra Thanks this.
  7. ncdriver1

    ncdriver1 Medium Load Member

    658
    576
    Dec 3, 2012
    0
    I'll post mine here too. Am also tank yanker leased to a company (% pay).

    Total Gross: 167,617.91 86,601 miles
    Fuel: 38,180.69
    Maintenance: 15,000
    Plates + Ins: 4784.96
    Health Ins: 4800
    Payroll: 57,200
    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.
     
    TallJoe, ChicagoJohn and pmdriver Thank this.
  8. pmdriver

    pmdriver Medium Load Member

    545
    754
    Nov 14, 2017
    0
    The engine was a mack?
     
  9. pmdriver

    pmdriver Medium Load Member

    545
    754
    Nov 14, 2017
    0
     
  10. pmdriver

    pmdriver Medium Load Member

    545
    754
    Nov 14, 2017
    0
  • Draft saved Draft deleted