I need advice from an experienced owner operator / please help?

Firt off I wanted to thank you for reading my post. Yes I realize this post is close to response I posted to another thread. Just bear with me, I am Just looking for anyone to help me. I am looking at becoming an owner operator working for Schnieder. Schnieder has a post on their web site paying Intermodal drivers who are owner operators averaging $134,000 a year gross, including fuel surcharge. http://www.schneiderjobs.com/owner-o...ies/intermodal

I am a complete noob to being an owner operator. I would appreciate your advice on this one. There are many expenses such as Taxes, Tags, Insurance, ect. (Please bear with me I am getting to my point) Lets say I have an LLC or an S Corporation out of Nevada and I own my own 2012 International Prostar with a payment of $1,500 a month. I have an additional $20 K in the bank for repairs or extra expenses to keep me going until I get up and running. Instead of making $134 K a year, lets say I gross $120 k a year cuz I am a newb to being an owner operator. My questions are as follows;

1) Do you think I should have more emergency money then 20 k?


2) What do you think my monthly expenses will be on Insurance, Taxes, and Tags or Hidden Cost.

(I do not have to pay for health insurance or dental, on my wifes' insurance policy).

3) With a conservative estimate, how much do you think my net income will be after all expenses are paid including my W-9 Federal Income Taxes at the year with estimate of a 25% bracket.

4) Could you recommend an accountant, financial planner, or an experienced owner operator who wouldbe able to assist me in crunching the numbers so I can get an accurate estimate of what I am getting
myself into.


I would appreciate anyone that could give me some solid advice, good or bad. I do not mind honest critisims just as long as you follow it up with solid advice. I thank anyone who has taken the time to read this post and try to help me. May all you truckers be safe...!!!

 

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hey... i am sure you are just perfect... and just cuz you can point out a typo it does not make you smart. Matter of fact.. worry about yourself and keep your negative comments to yourself. Perhaps you could contribute something besides being negative. I asked for help.. not to have my spelling corrected by someone who has nothing postitive to say... so with that being said... unless you have something positive to add to my post or have advice for me please move on to someone elses thread and correct their spelling errors. Thanks pal.. BTW "place doesn't read like a child's band radio sounds!" If you are going to write something... try to make sense!!! I do not appreciate someone with the grammer of a 6th grader trying to correct my spelling errors... best of luck..

from this guy... lol........

"Incorrect spelling is a sign of apathy or one that's illiterate. With technology @ our finger tips it's easy to correct our spelling and appear professional (even though countless aren't).

Not trying to bust your chops, just trying to improve things around here so this place doesn't read like a child's band radio sounds!

 

thanks US Marine.. Semper Fi

 

We DO NOT tolerate insulting members on this forum