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

I run around 2500 miles a week, home every weekend. 25 cpm fuel, 25 cpm truck payment, .10 maint, .40 cpm my salary, .10 cpm taxes. .30 cpm profit to the business on 1.40 a mile. Not amazing, but not going bankrupt either. Now my goal is at least 1.50, but I can certainly make it work on 1.40.

 

Ya i understand that. Guess i misread your first post. I read it add you saying you would be happy with that 1.40 average. My bad.

 

It might be cheaper for you to park at a terminal and fly home (Southwest, etc)

 

Unless you are filing as a c corp, salary and profit is the same thing. So 70 cpm on 2500 miles is a profit of 1750. You already got maintenance and taxes figured in there so that's real profit. Are you really saying you are clearing 1750 on 1.40 a mile freight? Really?

 

I have done this often when the loads up north are hot and i don't want to get out of the system. Just fly home for a weekend. And the beauty of this is that return flight is already scheduled so i can't talk myself into staying a couple extra days.


Edit to add: is the south east really that bad for you guys? I can't imagine a company refusing to hire an oo based on where he lives. For a company driver sure, but owner ops? Like has been previously stated, flying home for offduty time is cheap. And even bouncing out is no big deal. Savannah has a lot of decent freight and is only 350 miles from tampa. What's that? 40 gallons of fuel? If a guy can't afford to eat 40 gallons when it's time to go back to work then there is much bigger problems than living in a bad market like florida.

 

My numbers are right there. None of it is made up or fantasy numbers. My operating expenses, including my salary run right around 1.10. That extra. 30 is profit is also a replacement truck fund. I just keep it all together. I file as sole proprietor. My personal expenses are very well managed, so I don't need to collect a large salary. I think operating expenses around 1.10 is pretty common from what I've seen others post.

 

I was under the impression that filing as an S corp also allows you to pay yourself as an "employee" with a W2 and file all additional revenue under the company EIN??

 

Same