325,000 per year owner operator

Here's the story. When owner-operators tell you that they're making 400 or 350k they are not telling you their gross (with few exceptions). They are telling you what they make for the truck. Then they have to pay their truck payment, insurance, fuel, etc. All of those things are tax write-offs. What you're left with once you write all that stuff off is then your gross that you pay taxes on.

 

As an owner operator, hiring a team driver, 5000 miles per week is 2500 for each driver in the same amount of time it would take a solo driver.. I do not consider that “chasing” miles.

 

I understand everything you say, it’s with any business no matter what field. If your business is in proper order, payroll deductions(whether you 1099 your employee/driver) write off all of your expenses, contribute extra money to tax deductible retirement funds(which you can borrow off of in the future) etc.. you can be extremely well off. If done correctly, you can maximize your NET, in the form of equities, which you can choose to do what you wish with them.

 

The biggest factors would be..

1. Working with a company to be consistent with the mileage.
2. Repair costs
3. Bogus deductions.

 

In order for your plan to work, a certain amount of miles must be covered. That’s exactly what chasing miles is.

 

Well if that is the case, I would assume every O/O does this as it is not a company position.

Real Estate agents chase “leads” on a daily basis to increase income. Businesses chase clients all day long. Only a very small percentage of any business is a name brand that does not have to chase in any competitive market.

It’s any business, you have proved the point, it’s how hard you work to get where you want to be.

 

Two working girls sat down at the end of a week. One was a lot lizard, the other a high end call girl.

Call Girl: Made $5000 this week.

Lizard: I did too! I make the exact same money as you do.

Call Girl: I only got porked once.

Lizard:......

 

It is chasing miles - the problem with all of this crap is that people don't shed their driver mentality.

I don't have trucks running around chasing the miles, they chase revenue as mentioned. Hell I have one driver who knows how to leverage loads and he works four days a week and produces more than those who are running 6 days.

 

Meaning if they gross $300,000 that's how much they made that year