Picking my own freight baby! My journey to & of being on Schneider choice, the Adventure & Numbers!

Discussion in 'Schneider' started by freightwipper, Jun 1, 2015.

  1. CaptainDaveG

    CaptainDaveG Road Train Member

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    Ok let me put some light on this subject The reason most guys owe a ton of tax dollars is because they have kept no records. No expense slips. I have a great lawyer and CPA. We talk every month I have an envelope in the truck everything goes in there. Fuel slips, hotels, etc. I have one business credit card from Capital One. I charge everything and I mean everything to the business except food and drinks. I put away 500.00 a week in escrow for repairs/replacement truck.

    2 years ago my CPA said we need to buy something for the business or you are going to owe 30 grand at this pace. I said I’m sick of the home office can I buy a camper and lease it as a terminal to my trucking company, of coarse he says. So I went out and bought a 30 foot Jayco camper it’s on a nice lake with truck parking. It saved me a ton in taxes. I am not smarter than a 5 th grader I just hire the best. I have been thru a tax audit no issues. When you keep track of every expense and they see that they know you got it straight.

    I do repay the company for rental of the camper when our family goes up there and stays.

    How do you think HUGE companies get away with paying little to no taxes ??? Amazon not one red cent. FedEx nothing. The list is endless.

    I do pay between 5 and 9 grand a year to make it look good. But I do have my eye on a new company car

    Be Safe Out There


    Captain Dave
     
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  3. Cat sdp

    Cat sdp . .

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    You should be loosing money now.
     
  4. CaptainDaveG

    CaptainDaveG Road Train Member

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    I run Reefer it’s none stop. Only one bad week in the last 7. I do a lot of cheese and it pays good.

    Be Safe Out There


    Captain Dave
     
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  5. Opus

    Opus Road Train Member

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    To paraphrase The Graduate......"Son, I got one word for you. Cheese.......".
    LOL
     
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  6. CaptainDaveG

    CaptainDaveG Road Train Member

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    Every load is a C19 load no logs just PC and when your done for the day enjoy that 10 break. I don’t even have to keep 3 or 4 paper log books. I am heading to the house for mother’s day. But back out Monday. I’m loving it (sorry McDonalds) don’t sue me.

    Please everyone stay healthy.

    Be Safe Out There



    Captain Dave
     
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  7. atruckr

    atruckr Road Train Member

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    Not so sure that sounds legit to me. But heck what do I know. Good on you, congrats!
    I read somewhere FedEx paid over 2 billion in taxes the last 10 years. But who knows. ? Not trying to be the devils advocate here but i would just double check your CPA maybe get a couple of other opinions from other professional accountants. It's my thought you can get away with that for a year or two or three but unless you are investing in employees or purchasing new equipment or RV's as terminals because your business is growing i don't think you can keep doing that every year. However you should be able to claim expenses to maintain the new cars and company terminals every year. I like looking at the big picture.
     
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  8. CaptainDaveG

    CaptainDaveG Road Train Member

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    Trust me it’s legal. This is why I try not to talk about money and what you pay in taxes. There are lots of ways to claim a deduction yes some are on the very edge. Not everyone will have the stomach or guts to follow on that strategy.

    Be Safe Out There


    Captain Dave
     
  9. CaptainDaveG

    CaptainDaveG Road Train Member

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    E3687CA9-D551-4368-9DC0-F95B16844756.png Near Death of Construction worker by Me.

    Here is what happened I was on 151 between Madison and Beaver Dam WI. I was going to pick up another load of cheese. I was just entering the construction zone had back off to proper speed as WI State Patrol has zero tolerance in a construction site.

    It was pretty narrow and the orange barrels were not to straight. I was coming upon the first set of equipment it was one of those huge units that lays down the asphalt. I quickly noticed no lined up dump trucks to feed the paver I started looking for the workers as there is 5 or 6 that make sure it’s running good. Just as I get up to the equipment I see the workers most with back to roadway talking to a female that had a sheet of paper in her hand and was showing them the layout etc. I also noticed all the vests were brand new. (I’m thinking rookie crew) in a split second I see the paper fly out of her had and blow toward the lane I’m in she starts to run after it I know I can’t get stopped I swerved almost in the ditch I thought maybe the back of the trailer would catch her and hopefully bounce her back into the construction zone lane. Better than me hitting her head on. Well the trailer missed her and after I replayed my dash cam it looks like another worker grabbed her. As we all know this all happened in a few seconds.

    But imagine I hit her because she ran out she would have most likely have died. Would I ever get insurance again? I’m sure I’d get sued but what did I do wrong? Would I loose the business that I’ve worked so long and hard at? Would I suffer from PTSD? (Most likey not as I was a Paramedic for 5 years so I saw plenty). What would an accident like that do to my family my grandkids that love the truck? Man this is why we have to be on our ‘A’ game every minute. The next mile may be your last

    Be Safe Out There



    Captain Dave
     
  10. RStewart

    RStewart Road Train Member

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    It doesn't seem right to you because you only know about employee taxes. There's two tax codes in this country, one for employees and one for businesses. Employees pay in more taxes every year than all of the businesses do. GE doesn't pay income taxes either. They're not doing anything wrong, just taking advantage of the laws given to them. That's all Captain Dave is doing as well. His accountant is worth way more than he's paying him. I need to find one of those. Most of them around here aren't that aggressive.
     
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  11. CaptainDaveG

    CaptainDaveG Road Train Member

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    My lawyer said years ago when I started looking for an CPA. Lawyer says you only need to ask one question. I said give me the question. Lawyer just simply ask the CPA what is 2 plus 2. If you CPA says whatever you want it to be that’s the CPA you want.

    Be Safe Out There


    Captain Dave
     
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