My numbers are in 2017 lease driver did I make it or not

So I took over a lease in mid February so my numbers are in for a total of 10 months this year. So the question is how did I do. Well I was a success this year IMO.

Gross revenue = $170,484
Expenses = $107,260
Net profit = $ 63,224

Here is the mileage breakdown for those who want to see it.

Mileage = 87010

Gross = $1.96
Expenses = $1.23
Profit = # .73

Now this is before taxes and I will update once that is in but at this point I made double as a lease driver then I did as a company driver for this company last year. The company I work for is based in Oregon and runs the I5 corridor for the majority of their freight. I have learned a lot this last year and am looking forward to another good year for 2019. I have some big plans to increase all of these numbers for next year so wish me luck on achieving those goals. I can increase my revenue by 10% if I have my own trailer so that is the next thing to work on.

People like to put all lease programs in a category of "don't do it" but I am here to tell you it can be done if you do your research and find the right company. Don't let the neigh sayers get you down and do what you can to achieve your goals. Just remember every trucking company started with one truck and grew from there. Leasing is just one way to achieve the goal of owning a truck and it can be done with hard work, planning, and luck.

 

Not a smashing success but I did good enough for me to be happy and want to continue with the program.

I didn't pay quarterly due to some issues with my first accountant I ended up firing. With that said I made sure to set aside money for taxes so I will be comfortable with paying at this point. Once I find out what my penalty will be for not paying quarterly I will make a decision on rater or not to pay quarterly next year.

You are correct. If I included all of the money I spent for my personal expenses that number would have been more around the range of 20,000 ish. The main reason I did not include this was when I did before in a different thread I got a lot of flack for it.

Good point but the number is still the same at this point either way. I have no employees and my profit is my wage so I have no wages or payroll. My benefits are paid for by my wife's employment.