O/O Need Advise on best way

Okay, so my boyfriend has been a company driver for several years. A buddy of his has is own Trucking Company.
After some discussion, we decided to get a truck, and my boyfriend would lease onto his company and drive.
So this past weekend, we bought a truck.
Everything seemed pretty basic, but now, as I start processing everything, I'm starting to stress....so I need some advice.
I don't know alot about the trucking business, I but I will be helping my boyfriend with his part of the paper work, and making sure we have things in order for his taxes.
The difficult part comes in, where, I purchased the truck.
I cashed out some investments I had, and bought his truck this weekend.
For security sake (my own financial security and his...he is in the middle of a divorce) I would like to keep the truck in my name.

The plan was, to lease onto his buddy's company, his buddy would provide plates, insurance on the truck, and we would get 75% of every load my bf hauled.
My bf was just planing on claiming the expenses/income on his own tax return (sole proprietor ).
After some reading and research online, I'm thinking it might be better to set up an LLC, especially since I would like to keep the truck in my name.
If we establish and LLC can we still lease on to his buddy's company?
Tax wise, how does it effect my bf if he doesn't actually own the truck...and how does it effect me? Obviously, the income will be going to support the life we have together, (however the house and such is only in my name also). But since we are not married (and don't plan to be anytime soon); I'm just worried about the tax implications of everything....
Maybe I'm over analyzing things?
Has anyone been in a similar situation and offer advice?
I'm working on getting an appt with a tax/financial professional to discuss our options that will work best for us.
But thought i would get some input from here first.

 

I appreciate the advise, and that is generally my rule.
However, it seems more logical to lease onto his buddy's already established company, than to try and start from scratch. His friend is at the point where he is going to start loosing customers because he can not handle all the loads himself.
They are very like minded individuals, and his friend, does not want to lease on someone who he does not trust to haul loads and treat his customers the way he would.

 

@Denis3721; The company we are leasing on to is already well estibilshed, and adding us in effort to not loose his already established private customer base, as he can not handle all the loads himself anymore. It is better to expand than say no, I can't haul that for you.
I do believe you may find ourself a bit strapped if you are leasing people onto your own authority, covering their plates, insurance and what not, and only charging 10%.

I appriciate your comment, however, My question was not in reguards to place we can make more money, it was about setting this where both my boyfriend, and myself are protected, along with our assets. I own the truck. I also own my own home, free and clear, and have a decent amount in investments. I would like to make sure my assets, while still tied to the truck because I own it, are protected in case something should happen.

@Lilbit If you could send me the link, it would be greatly appriciated!