Crude oil hauling in Northern Colorado.

Discussion in 'Experienced Truckers' Advice' started by drew2083, Apr 10, 2019.

  1. drew2083

    drew2083 Light Load Member

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    I might be getting the opportunity to haul crude oil in the Northern Colorado area. He says that he will pay a percentage of each load. Also, I only have 6 months of driving experience. He said he'll train me. Also, this will be a 1099, and he is wanting me to get an LLC. Thoughts anyone?
     
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  3. Gdog66223

    Gdog66223 Road Train Member

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    An LLC is great is your are the owner of the truck because you reap all of the rewards, but since you are going to be the driver then you will be known as what is a called a "sub of a sub".
    Which means you will be driving for him and he will still reap all of the pay, but give you a small percentage and make you pay your own takes in the form of a 1099.
    What is the amount of percentage he is paying you?
     
  4. drew2083

    drew2083 Light Load Member

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    He said 25% starting out. and go up to 30%
     
  5. Gdog66223

    Gdog66223 Road Train Member

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    25% of nothing is still nothing. Did he give you a rough estimate of what you will be making per week/year?
     
    okiedokie Thanks this.
  6. drew2083

    drew2083 Light Load Member

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    or it might be 22% starting. I cant remember exactly
     
  7. drew2083

    drew2083 Light Load Member

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    He said starting out around 5k a month. Once I get faster at doing it I could be around 8k a month....
     
  8. Crude Truckin'

    Crude Truckin' Alien Spacecraft

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    No way I'd do that for 5 to 8k a month. Go find a better deal. You can do that kind of money as a company driver with benefits.
     
  9. drew2083

    drew2083 Light Load Member

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    I can find that with only 6 months experience?
     
  10. Gdog66223

    Gdog66223 Road Train Member

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    IF you are going to do this "1099" you will have to keep all of your receipts for taxes at the end of the year.
    8k a month for a year is $96,000 so you will have to roughly put back $30,000 for taxes that you can't touch.
    $60,000 a year for hauling crude oil is cheap my friend. I'd find something better if you can.
     
  11. Crude Truckin'

    Crude Truckin' Alien Spacecraft

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    Find a starter company and work for them for 6 months. Like MBI Energy Services in ND. Get your foot in the door with a company like that and dump them after a 6 months.
     
    ColoradoLinehaul Thanks this.
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