Thinking about buying a truck again. Did it a long time ago with Schanno and pretty much lost my butt. Are the following items common in a lease contract these days?
Company pays for:
Quarterly fuel tax, Tags, Base plates, Permits, Qual-Com fees, Tolls, Scales
Company PROVIDES and pays for:
Pre-Pass/EZ Pass, Nor-Pass, Oregon Green Light, Oklahoma PikePass
Company allows you into their medical insurance plan and pays 50% of your medical premium but not your vision or dental.
Company paid vacation, paid holidays, life insurance
We'd get the company's fuel discount and 100% of fuel surcharge and stop/detention pay.
I saw that medical insurance bit and thought that was pretty uncommon and also the paid vacation too.
Do most lease contracts cover the following expenses?
Discussion in 'Ask An Owner Operator' started by kat51415, Jul 18, 2015.
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As for the Fuel tax I pay that my self I take out between 2 - 4cpm, sometimes it covers it all and I have a few hundred left over sometimes it's more it all depends on the states I run.
Paid company holidays ? Never even heard of this as a O/O or a L/P Costs never stop the insurance company still wants their $$ and the Bank still wants it's truck payment.
Company my truck is leased to pays for my tolls but I pay 19.95 a month for the blue box it self. Ill gladly take that 19.95 vs payin the tolls.
Insurance, That one I cant help there as I'm a young buck and frankly ill pay the 99$ (Tax Penalty) fee vs paying 100$ a week to money grubbing insurance company's that at this time I don't need (I do have a savings account set aside for medical incase something does happen. Bright side to this is its still my money, if I don't use it I don't lose it)
Fuel discounts and rebates I get 100% of, I get payed for both Stop/Drops and for Detention.BigKid2, scottied67 and kat51415 Thank this. -
You'll get all that paid driving their trk.
You own it, so you get the head aches.
They might file your quarterly and Fed. use tax for you, but the funds will come out of your pocket
Holiday pay will come out of your pocket
Fuel surcharge, yea most will give you that, but look as some might take a portion of the fuel rebates from the trkstps.
Alot of the questions you are asking we got years ago on the union side of things. Not now dayskat51415 Thanks this. -
If they provide and pay for as much as you have listed, particularly health care insurance premiums, there is no way you qualify as an independant contractor paid on a 1099.
The IRS would classify you as an employee. They may get away with it for a while, but do you want to be involved with a company that skirts the law? What other questionable ethical practices will you find out after you start working for them?kat51415 Thanks this. -
The question is how much you will get paid per mile
kat51415 Thanks this. -
Thanks for your feedback, folks. I really need to check out the IRS thing. The mileage pay is $1.51 loaded, $1.35 empty.
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If they pay $1.51 a mile loaded, by the time they deduct all of the items you list above, which in this kind of a deal are seriously inflated you will not only not be an owner operator, you won't even make employee wages, but accept huge risk. I supose they are financing the truck also, another scam.
kat51415 Thanks this. -
My husband and I are actually company drivers for this company. They really do give the O/Os all those things I listed. The O/Os don't pay for much here, I just wondered if that was normal these days and what all of that would add up to on top of the mileage pay. The IRS thing worries me and I'm trying to find out more about that. I know that they don't do the lease purchase thing. All our current O/Os own their own trucks with no help from the company so I'd have to get my own financing.
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