Best week so far

Shoot I am barely over a year as an O/O!!!!!!!! I was a company driver for the other 12 years. LOL.

 

At $1.20 per mile, you are WAY low..... Fuel/maintenance alone are in the 85 CPM range. Even if you figure low on the fixed WITHOUT your salary, there's another $3600 per month. That's gonna be another 25 CPM or more. Puts you at $1.15 and you haven't taken YOUR paycheck yet. That would be another 30 CPM or so at least. Puts you at $1.40ish right there.

 

Slacker.....

 

Not a bad week.

 

Last full week I was out, Ending 2/22. 8 days out.

$6875 Gross
$5803 to the truck

3081 miles total


Fuel was $1900. 32.7% of Net to the truck.

$2.23 all miles Gross
$1.88 all miles to the truck.

 

Well, if he's getting 6 mpg, he burned 580 gallons of fuel...and assuming $4/gallon, that is $2320 right there just in fuel. Figure another $0.15 or so towards the wear & tear items on the truck...that's another $522, so he'd be up to nearly $2850. Then there's the driver...at 25% is another $2076...brings us up to $4926. Then there are the employment taxes...social security, medicare...that's another $159 to bring the grand expense total up over $5000. Not to mention unemployment, workers comp, health insurance contributions, etc., etc, etc...

Running a truck gets expensive, and I wouldn't even be surprised if actual expenses approached $6K when all was said & done. PROBABLY not quite that high...but it wouldn't surprise me if it was. Still not a bad week considering the $8.3K gross, though.

 

I was figuring at least in that ball park. $1.55ish (with a paid driver) per mile for expenses I figure at the minimum. Right at $5400 for a minimum for expenses.

 

That is a pretty good week!

$2,500 or so in fuel, another $1,200 for the truck expenses, another $2,100 for your pay! Daaaang, for a company driver, 25% is good anyways but that is one helluva week.

Your boss made about $2,500 profit on the truck minus EBITDA and whatever rent and other employee expenses he has. That's one helluva week for him, too!

Just curious, does he 1099 you or W2?

 

So he only pays you 25% of the gross, but you still book your own loads? Meanwhile he doesn't pay ANY of the employment taxes, no unemployment insurance, no workers compensation, no health insurance, no 401K, etc...?

You're getting a raw deal there. Hope you are setting a good chunk aside for the tax man...$318 last week just for the self-employment tax....and then your income taxes on top of that. For what it's worth, as a company driver I was making 28%....except THEY booked the freight, THEY paid my health insurance, THEY paid their half of the social security & medicare taxes, THEY paid for unemployment & workers comp insurances, THEY matched contributions to a 401K, etc...and ALL I had to do was drive their truck. Don't get me wrong, you had a pretty darned good week for a company driver....but make sure you are setting aside enough of what you're earning to CYA down the road. Being paid on a 1099 if anything were to happen, you have no safety nets other than the ones you set up yourself.