No, seriously, I want to buy my own truck

What a rip off, $4k for a qualcomm! I aggree sounds like someone is about ready to screw someone over............

 

Company drivers make (keep) more money, assuming they have a decent job. Especially if they have a family (deductions).
The ONLY reasons to buy a truck is if you want to live in it and fix it up the way you want. Be able to say NO. And are willing to give up paid vacations and more (benefits?) to do this.
It is NOT a way to make MORE money than a good company job.

 

I agree with you some points and disagree with others.

As a businessman, I am allowed to write-off certain items for the company and keep more on my personal side. As far as the IRS is concerned, I make a certain amount that I pay taxes against. If you as a company driver make say $40k, you are taxed on that $40k. As a business owner with a 'C' corp, I guarantee that on "paper" tax wise, I make (claim) less and therefore pay less in income taxes than a company driver.

Other benefits:

• My pick up truck is a company vehicle that I as an individual lease to my corporation
• Internet-that's a corporate write-off
• Office space..yes that too
• Tools..yes
• My two generators...yes, they're considered office equipment by the IRS

There are only three bosses that I must really answer to as an O/O

• Customer/shipper
• GOD..and finally most importantly
• MY WIFE

Why would I want to be a company driver again???

 

I don't think I could go back... I don't pay taxes (a couple of hundred a year for SocSec). But that's because my life is my truck. My bookkeeper deducts almost every cent I spend, but that's because it all goes to keeping me and my truck on the road. I deducted my Harley because I carry it sometimes and it is my 'support' vehicle.

If a guy is single with no ties and maybe a check coming in from retiring from some other occupation (i knew one guy had both military and post office income), buying a truck makes a lot of sense, if that is the lifestyle he wants to embrace.

I have a lot of stuff in my truck that no company would ever let me have. 2 large inverters, generator (well, maybe that), desktop computer, hi tech up the kazzoo. It is my HOUSE.

I just want to warn wannabees that it is not a pot of gold. There are MAJOR trade offs!

 

all else is being equal over here as a O/O but regarding the Bosses as an employee I have to answer.

Well day to day operations lets see...

The owner of my company..nope I see him once or twice a year and he pays the food and drinks And I´m always wasted as he´s too at those meetings at the end of the day ( Night actually ).
My own Boss.. nope I see or hear from him once or twice a month.
The Dispatchers.. Daily yes. No problem with that I don´t have to argue as we have computers and navigators.
God.. Nope.
My Wife... Nope.

The paperwork.. well all being quite computerised not much.. fill in the log which takes no more than 15 minutes all in all.
Timeslips at the end of every 2 weeks takes 15 minutes... Thats all as we speak.
Still I find being an O/O tempting... why despite the fact that I was a owner of a business before too and know how much less there´s free time.
I must be nuts like you too Ron.

 

Once you venture out on your own and are successfully it is very hard to every work any other way. This is my second business. I am successful and enjoy the fact that I only make 30k a year. Now as Ron said, my den is my office, I get paid for rent, my personal truck is my parts truck, errand vehicle etc. it is leased to my corp and I get paid for that.Fuel, that is all on the business. Insurance, again all on the business. You see if you are a company driver and subtract all of the bills you pay after taxes you will see you have about 15k a year of income to do what you want with. For me, I have 30k a year to do what I want with as everything else is run through the business where it can be done legally. I don't play in the grey it is all black and white and in the end even though I only make 30k to say 50k I have more money to do with what I want. I also have more time at home as a O/O vs. a C/D. I have more freedom, say its late Nov. and I want to catch opening week for a few days, I surf the loads to find one that delivers near the lease. It works out but you do have to work it. As an O/O when I want to come home and say I blow a tire or something, I get it fixed and keep working till I out back what my repair cost from my repair fund account then I go home. You do have to sacrifice but it is sacrifice for you and your life not someone else's.

 

If you look hard enough you can find what you want and it may take some time. I finally purchase a truck for ten grand with two grand down. It is a little older but I am not planning on going to far staying in the SE. I got a lease to own deal but only have to pay $300 a month for a two year deal. The truck runs good and if I want can pay it off early. All tags and taxes are already paid and a small deduction of roughly fifty bucks a week covers that plus my insurance. Call some small trucking companies and see if they offer anything similar. I was going to go to a lease company to purchase a truck but then that way you have to pay all your taxes up front roughly fifteen hundred for tags and 500 heavy road use. you will have to put down between $2500 and $3500 and roughly look for paying around $1000 a month, the good thing about it is that if it doesnt work out you can return the truck at any time with no penelities but you lose what you put in to it. Also there is no credit check with this plan so it doesnt hurt or help your credit and if you have bad credit it doesnt matter because they dont run it. hope this helps some,