2017 Income & Expense Review

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

  1. ChicagoJohn

    ChicagoJohn Road Train Member

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    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 Road Train Member

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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.
     
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  3. xsetra

    xsetra Road Train Member

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    Good price for insurance. What is your mile radius?
     
  4. Oldironfan

    Oldironfan Road Train Member

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    No truck payment? And 6 weeks seems too long unless you rebuilt engine yourself in your driveway?
     
  5. ChicagoJohn

    ChicagoJohn Road Train Member

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    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

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    700. OCAC is through company. BT runs around $1,200 year I think.
     
    xsetra Thanks this.
  7. ncdriver1

    ncdriver1 Heavy Load Member

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    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.
     
    double yellow, C_Hemp, SoDel and 4 others Thank this.
  8. pmdriver

    pmdriver Road Train Member

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    The engine was a mack?
     
  9. pmdriver

    pmdriver Road Train Member

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  10. pmdriver

    pmdriver Road Train Member

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