Lease operator is working well for me so far

I view it as just a business relationship. Even the automotive OEM's do not make all the components that go in their vehicles. In fact, hardly any major corporation "does it all". The thing I like about being with a carrier I can trust and who has a excellent customer base, is the consistency and stability in the operation. I still stop at the house a couple of times a week, off on weekends/holidays, and take 3-4 weeks off a year. I also limit what I do to the area within 600 miles of the house. And hardly any sit time, and delays at customers generate $38 an hour to me. I am not a total control person, just a practical one that looks at all costs, including my time, and how that plays out in what my net is. And a income that exceeds $80K a year after expenses, I don't see any appreciable reason to put more upon myself. Especially since I live in a nice, rural, lower cost of living area where real estate is much lower than many areas of the country, and property taxes are considerably lower than other areas of the country. So I can have both a life and a lifestyle on that $80K net income that it would take well over $100K net income for someone else in another area of the country.

 

First I want to say thank you for the insite and things to think about. One thing was mentioned about company driver's salary not being able to reach a net of 39k that I would like to touch basis on.

For a lot of companies your statement is true, but some of us can net at least 39k a year. Take me for example. My net income is around 1800 for two weeks on the average not including any reimbursement. If you deduct my part of the medical insurance that is covered by my wife's employer then it's around 1700. That comes out to a net of 44k a year so it is possible, just got to find the right company to work for.

 

like I said, some guys like it that way, I don't.

In addition, I've been compensated way more detention on my own then I ever did with the company I leased on to.

I live in Oregon in a beautiful rural area right off the I-5 on 2 acres, so, I know all about the good life

 

I think you missed the total numbers I posted. While I do pay myself $39K a year as a W-2 employee, my net ABOVE that is $50K as of 09/15/16. So essentially, I my taxable income this year to date is bouncing around $89K. My medical insurance is at $694.95 a month right now. And that is factored out before my net. So I have had a taxable income of $89K thus far this year and that is after medical insurance cost. Yes, indeed, it can be done. That is far better than the vast majority of company driver's yearly income and we still have 3 months to go this year.

Now, that is with the idea that I am not doing the lease purchase thing, and own my own truck. But I am with a carrier that has a very good operation tied with a very good customer base.

 

I agree it is a legit business cost but most of these guys doing lp don't have it. That's why i said what i did.

Edit to add: also i would never compare my income to the average company driver. The average company driver is no smarter than the average monkey and has even less ambition. I use the top 10 percent as a baseline for income. Ltl, food service, ups linehaul, etc.

 

That funny

 

Who did you LLC through, if you don't find me asking?

 

My accountant took care of the LLC filing with the state, and the S Corp taxing structure with the IRS. It was $150 for the LLC filing, and just a simple form for the IRS. Any accountant can take care of it for you. My accountant is Sherry Griggs who owns Dimensions Accounting in Newton, IA. A solid gal who knows her stuff. She is really up to speed on small business stuff, and especially agriculture and trucking business'.

 

Good info shared here.