Independent truckers see end of the road

I hate to have my first post to be negative, but after reading this thread it would appear that the original poster should not have become a O/O. It seems as if they do not have any business skills whatsoever. Good Luck, you will need it in this economic climate.

 

This industry is changing hard and fast! I don't blame anybody for complaining that it isn't as good as it used to be. Be prepared for the only constant. Change.

 

Well now that I explained my position regarding this subject and have read your position, we pretty much agree in principle. You are absolutely right in the fact that a cpa/tax preparer's sole responsibility is to help you lower your tax debt. Based on that, he was doing his job. It is just not very wise to take the advice of a CPA when making business decisions such as the one in question. He is only presenting the side of the argument which he represents.

 

Buryky, boxes that said it all, we used to pull a tank as well, the good ol days, the co sold out now we are doing something different....almost as good but the good ol' days are gone, andway I didn't take the time to read every post just the first page, Omega you must not be old enough to remember when Jimmy Carter put a cap on fuel prices back in the 70's. I do and I don't have time to stand around all day waiting for gas or fuel just because the oil co decided it was not worth it to refine the product, and there is no gas/fuel at the pump.
Raindancer you need a new tax person if the truck is not costing you more in repairs that what the payments would be on a new rig then you had better keep what you have. The only other thing to factor in is if you can get a better fuel effiecient rig and with all the new mandates for engines now I doubt you will be able to do that. I know when you run out of depreciation it gets rough but you can only deduct the intrest and the depreciation of the principal part of the payment which is never 100% of the total expense even w/ depreciation factored into it.

 

I am actually the one that put those drivers in connection with Ellen, the author of the article. I was really impressed by the way it was written and explained. Hit alll the major media networks too.

 

If you have money off..invest in something else.
Buy properties..rent them... whatever instead IMO at the current situation.
Dont take a further risk by buying another truck at least.
Get a delivery Van or somthing if you absolutely must invest in transportation.