Percentage

Not sure about that idra..means testing? What would one have to do in order to get their own authority? Knowing the federal government, and and ATA, they'd be happy to require a threshold of say $200,000 net worth.

I think this is where OOIDA should come in. I know they have some kind of business school thing on their website but I don't know how in depth it is because I've never really looked around much. But basic business and accounting skills are indeed necessary.

I myself don't even have my own authority and don't plan on getting it anytime soon. Too much BS to deal with. Imagine these people getting their numbers and then never knowing how to file ifta or even know what it is.

Simple.thing to calculate what your costs will be for the year, know how much you want to net, and go from there. And there's plenty of O/Os out there happy to be taking home $50k before taxes, but not me.

And that's another thing, too. Taxes can eat you alive if you're not careful. My CPA and I decided that we'd depreciate my truck at 47% for last year and that meant me only having to.pay $1500 in taxes. Going down to 45% added another $3000. Depreciating it 1/3rd, would have given me a tax bill of $8500.

 

Unfortunately, there are not too many Carriers giving absolute freedom to pick and chose freight and that's the beauty of own authority. To get own authority and forfeit that is like buying a tank for the purpose of commuting. Paperwork involving one truck only, including invoicing, becomes a routine and takes only a medium level of intelligence and not a lot of time at all... and to delegate it and pay someone else to do it is a waste of money. Factoring is also a shameful money waste - talking about one truck operation only.

Edit: Being leased on and able to pick freight, is the best set up for a single owner op not having any plans to expand into a fleet, imho. The only question is the % ...and what's for it. Insurance cost, paperwork, and the most important - the peace of mind umbrella against claims and some shipper/receiver BS, perhaps even some assistance in case of financial difficulties etc.

 

10-4. I leased on with a carrier I work the boards. I didn't make any money its my fault not theirs.