Independent truckers see end of the road

I'm not that adventurous. There is lots of things I can think of I'd rather be doing that writing the cronicals of the down and out in TX.

 

look on the bright side...at least yer good at it

besides it beats the " life of a lazy old cowboy who owns a truck"

 

sounds like me too

 

If there is nothing wrong with their truck, then the tax issues are NOT a legitimate reason to upgrade. Why would you go spend $1.00 on something you don't need in order to keep from sending the government $.30? The timing of replacing a truck should be based on maintenance costs, fuel costs, and other factors such as this. If you are not getting killed by breakdowns, you get good fuel mileage, and the truck is paid for, you would be an idiot to replace that truck solely for a tax deduction. Therefor, that is the long version of the same answer I already gave....If your accountant is telling you to buy a truck only so that you have depreciation to deduct, FIRE HIM.

 

Omega, I am glad to see that you are an open-minded person and are absorbing some of the advice given here by some of the experienced people. I hope that in some way my posts made you think. If I came off as "cold-hearted", oh well....I am cold-hearted. That is one of the reasons that I am successful at what I do. Just remember that negotiating with brokers or shippers(hopefully for your sake), is just business. Don't take it personal or let them get under your skin, and stick to your guns.

If you want my advice, spend alot of time learning how supply and demand drives frieght rates in this industry. Learn where the good frieght is and the bad frieght is so that you can develop a sound rate structure. Finally, like I said before, get out there and pound the pavement, beat on doors, burn up the phones, light up the fax machines, beg, grovel, steal, or slither your way into getting direct customers(shippers). That is the only way you will prosper in this business.

Now that I made my thoughts very clear in my first few posts on this thread, I would be glad to offer any other advice and or answer questions you may have.

 

I am not offended. I just tried to let everyone know why an accountant would say this. MOST accountants have no clue about trucking, engines, repairs, fuel mileage. They only deal with the tax cost to a business.

It is one of the reasons I don't blanketly support people saying to get a good CPA. I have always stated that the accountant, tax preparer must be familiar with the industry.

Now so no one goes off on me, I totally agree with keeping the truck. There is only one reason to consider the upgrading of the truck. It is by reviewing the maintenance costs compared to new payments.

 

Guys thanks for all the input.While we do keep the truck in top condition it does cost but then every truck has upkeep. I do have 50 acres so I could put up a shop or have other properties I could use or upgrade for tax purposes. I just HATE to give tax dollars so that I can pay for things I personally do not support. But again thanks to you all for the input and yes there is money to be made but this is a bussinness and it takes a lot more work than just driveing. Afraid thats something most people find out too late

 

well if you are doing that good and you don't want to give that money to the government then reinvest it into expansion and keep growing. If that interests you any. I'd rather loose the $2000 truck payment and pay $500 of it to taxes and keep the $1500, that's the way I see it.