How did i do? 1st full yr as OO

Discussion in 'Ask An Owner Operator' started by Chris50, Dec 30, 2011.

  1. Chris50

    Chris50 Medium Load Member

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    Jun 21, 2010
    Florida
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    Your right, Sorry about the per diem i just guessed, i wont guess on my taxes..Also i probably didnt average 7mpg for the year, i made big changes about mid year..I used to drive 70+ when legal and now i dont go over 60 unless its downhill:).heres my monthly costs off a settlement for reference:

    Workmans comp $175
    Accountant $55
    Hiway use tax $44
    qualcomm $25
    Truck insurance $200
    bobtail ins $35
    Health ins $197

    total 731*12= 8772

    dont know if that helps you figure it out but the rest of your figures were right about on

    Thanks for the replys


    ps.. one person said something about a fish, must be over my head, oh nm..read some of his other posts, old di*k,retire already,,, REALLY?? why post in the thread?? just so u can be an #####

    edit: you didnt account for tax moneys already paid i think, im not sure on the amount without looking but at least 7500$ was sent
     
    Last edited: Dec 31, 2011
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  3. oneshot

    oneshot Medium Load Member

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    Hey,if it works for you,great.With your plan u are able to take time and enjoy life.
    Makes no dif what someone else thinks.I ran 90000 miles this yr in 34 weeks and I'm happy.It's nice when u can have a life.
     
  4. Mr. PlumCrazy

    Mr. PlumCrazy Road Train Member

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    See I was going to keep my thoughts to my self but you asked for it. Its wasnt just a fish its was Flounder and where do Flounders feed on the bottom and as far as old di*k well you can learn a thing or two from us old di*ks and I dont know what post you read but not retired. And I post in this thread because I can and the fact that I too was once a bottom feeder pulling someone else trailer around hauling grossed out loads for $.97 a mile +FSC. This board helped me realize that I was one of the problems helping big company cut rates. I paid them $12 a week to use their quadcomm knowing it more than likely only cost them $5 a week. I used their fuel card getting $.07 of pump price but they probely got $.25 or more off. I went the places they didnt want to sent the company truck because it was cheaper for them to sent the O/O's there running up and down US71 in AR. Companies use O/O for one reason and one reason only and it is not to help you. If you are a O/O you have to look at it as a business. You didnt clear 58k you company did now figure in you operation cost paying driver(yourself) and time that you put in, wear and tear cost of your equipment, cost of you home office ect. You have to get it out you head that once you pay for fuel tires and oil change the rest is profit. There is a lot more expences that a lot of O/O dont calaculate into their business down to the simple things like ink pens Bank charges and unless that company give you a free phone to use it is costing you. There is a lot of cost you left off you calaculations me I like a clean truck and I do hit the streaking becon every blue moon but I do 90% of my truck washing at home but you know that cost money too my city dont give away free water nor do walmart or auto zone give away free soap and my time is not free. when I do my balance sheet I include every little thing before I show a profit to include part of the the time on this thread its considered research. Part of the reason for becoming an O/O was so I can cut some of the middle men out not to just say I am a O/O and I can out run your company truck. Instead of paying everyone else to do a job I can do I pay myself to do it. I admit I am no where close to knowing it all but between this board, other drivers out there I meet and my father and some friends which some have passed and I respect dearly I am learing. And I also admit this Old Di*k have even learned from younger less experenced driver so age is just a number. I run a busness and I set my goal and standards high. My father once told me to reach high and stand tall cause if you lower yourself to another man you will be at a level to kiss or blow(well I cant put the exact words here)

    This post is in no way to call you out we are all here to learn. I am the type of person that even if you was to call me out my name I would still do my best to help you because in the end when we walk away I will be feeling better caues I was willing and able to help than harm
     
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  5. Bigrigin

    Bigrigin Light Load Member

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    Dec 18, 2011
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    Well said:biggrin_25514:
     
  6. roadreeler57

    roadreeler57 Light Load Member

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    Nov 19, 2011
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    $55 a month for an accountant is a big ripoff...I can add a few reciepts up & do my own longform taxes a hell of a lot cheaper than that...I'll buy food or fuel with that $55 instead....That accountant is doing very little work for that humungus amount of money..
     
  7. Chris50

    Chris50 Medium Load Member

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    Jun 21, 2010
    Florida
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    Wow, why not just make the 2nd post? Instead of the name calling/labeling ?? I can appreciate that one a lot more. I stated i was still new to this and living in FL i dont see many opportunities to change. I do understand that the 58k was not in my pocket, I set aside 90% of that this year so i have money for a rebuild or a new truck if i so desire. Truck just turned 500k i hope for it to last quite a while still..

    I used to pay an accountant about 400 a month so 55$ seemed reasonable. I dont want to deal with any paperwork at all.. I did that for too many years!
     
  8. Mr. PlumCrazy

    Mr. PlumCrazy Road Train Member

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    Jul 30, 2009
    Lexington NC
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    My accountant cost me $350 a year to do business and personel
     
  9. Mr. PlumCrazy

    Mr. PlumCrazy Road Train Member

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    Lexington NC
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    Well it is what it is 90% so you lived off $6k for the whole year
     
  10. oneshot

    oneshot Medium Load Member

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    Looks like he makes enough trading to live on and banks the trk income.Looks like a great way to diversify your talents.:biggrin_25514:
     
  11. southcarolin

    southcarolin Bobtail Member

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    Feb 21, 2011
    lv,nv.
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    where did you buy your truck.:biggrin_2559:
     
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