Company Driver to IC

Discussion in 'Superior Carriers' started by ncdriver1, Apr 28, 2016.

  1. ncdriver1

    ncdriver1 Medium Load Member

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    May Gross comes in at $14,123.29
    I was home the 12th through the 20th and the 27th through 30th (memorial weekend) so that was 12 days off out of 31. Averaged $740 per day, not too shabby. YTD gross is $67,177.25.

    I've been home since Saturday and will probably hit something outbound this weekend and stay running 2-3 weeks.
     
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  2. 59EX

    59EX Light Load Member

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    Awesome, sounds like you've found your groove.
     
  3. lagging

    lagging Medium Load Member

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  4. ncdriver1

    ncdriver1 Medium Load Member

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    I'm still here, just haven't updated this thread since June.

    I think I should end the year with 160-165 gross and 110-112 net. Currently averaging 1.83/mi hub.

    I could have grossed a lot more this year, but I wanted to try to balance out work/life a bit better. Been working 10-14 days and taking off 5-7. Some weeks I only did a single out-n-back, not because it was slow but just all the work I wanted to do.

    I do plan on running hard at least through May of next year. Going to go look at a new truck Monday, mine is ready to be paid off and I'm getting tired of old truck problems. It's been running fine but just sick and tired of the little bs that pops up on a 14 year old truck, and the one I'm looking at is a real nice. I won't buy anything this year, but I'm definitely getting that new truck itch.
     
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  5. Coolbreeze

    Coolbreeze Light Load Member

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    I saw your truck in Markham the week of Thanksgiving. I came in to drop a dirty and grab a clean empty. Didn’t see you in the truck, and I had no time to hunt ya down. I run out of Morrow.
     
  6. lagging

    lagging Medium Load Member

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    Is that with or without fuel surcharge
     
  7. ncdriver1

    ncdriver1 Medium Load Member

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    Ya, I ended up parking there and flying out of O'hare for the week. I had a load that would have got me home in time but my stupid drivers side window broke so I spent two days at a dealer getting it fixed. After that I said f'it I'll just change my travel plans and fly in/out of Chicago. I spent the week down at my parents in Charlotte NC.

    That is everything, fuel + accessory + linehaul.

    It does not include any unpaid layover/demurge which currently totals around $1350
     
  8. Thermos Bottle

    Thermos Bottle Light Load Member

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    So you net $110K after all expenses? (fuel, repairs, tags, etc). Do you have to subtract for taxes after that? Don't mean to be nosey, but it may be time for me to go O/O haha. You looking at a brand new truck?
     
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  9. lagging

    lagging Medium Load Member

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    Ics get paid layover?
     
  10. ncdriver1

    ncdriver1 Medium Load Member

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    That doesn't include all repairs or my payroll.
    I'm setup as an S-Corp (thats the pass-through business getting tax breaks!) and pay myself 800/week after taxes. My payroll company deducts all the taxes, around $300 a week and I get a W2/W4 or whatever form it is at the end of the year. Interesting to note, if for some reason I fire myself I can collect unemployment...

    So of that $110: $55k will be payroll (wages+taxes including payroll tax) and $55k minus all my other business expenses will be profit to me (the business owner). I had a 10k repair in January but nothing major since then, so lets say 35k net operating profit after tax.
    Net-net should be in the 70's to maybe 80

    And, yes I spent all day today looking at a truck and speccing one out. Going to pull the trigger in January/Feb once I get my taxes done. Should spec out around $165-170 and I plan to finance around $120 to keep my payments reasonable.

    Forced Layover and Demurge. Also Holiday/Sunday pay but it seems random.
     
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