Running with JCT, Part Deux

I agree that there is no one size fits all. BUT I think they should put in that formula an approx. figure you should put aside. Their breakdown is not exact but they have one. Fuel prices change, miles are not guaranteed but they still give you a rough idea of money you will make. We all know taxes suck. But I would like to give JCT a try but not if I take a MAJOR pay cut. I know I will make less because I will be leasing a truck with a payment vs. company driver no payment.

 

I understand the difference between being in business for yourself vs. company driver. JCT just puts up rough numbers that makes everything seem pretty good but don't mention the quarterly taxes and how they vary based on income. Would be nice to know.

 

When you are a self employed contractor a good rule of thumb is to set 25% of your gross away for taxes.

 

When you do your 2013 income taxes, ask the accountant. This would be a good time to use a professional, instead of the guy at the WalMart Jackson Hewitt.

 

I've got a new 2014 Cascadia, and my variable runs me .22cpm. From what I understand, the new Automatics add an additional penny per mile to that. And the fixed remains the same regardless, $120 per week. Also escrow fund on a new truck is .08cpm. Slightly higher for used trucks.

 

Ha! That'll learn em!

Found that tiny little Peelot near Tropicana, topped off the reefer, then went and dropped it off. Went back to the Peelot. Gotta love Pilot. ZERO parking spaces, just fuel, but two showers.



Manager-kid let me pull up and to the side of the far fuel lane and grab a shower. When I got out of the shower and was drying off, I noticed my pile of sweaty clothing trying to come at me in a threatening manner. I stomped on em and tossed them in my mesh laundry bag. I may just hang them outside the truck while I sleep. Not sure that bag will hold em if they get froggy.

At the Walmart parking lot four miles down the road. Two other jct here but I guess I'm the only one who dropped the trailer off. This will be my third almost-34-hr-reset in two weeks. Things gotta pickup.

 

Well what model should they use? The Jackson Hewitt way of doing it? How many kids should they use? Any other dependents? Student loan interest? How about mortgage interest deduction? Any other businesses? How much should the spouse earn? Any spouse at all? How many bottles of coolant did the driver buy? Oil? Did he/she buy it at Walmart or Pilot? Any losses? Investments? Health insurance? Lottery winnings?

This is why you CANNOT estimate how much a driver would take home after taxes. Too many variables. Everyone's situation is different. YOU can take your estimated net before taxes and figure it out based on YOUR situation.

 

I know my kw is $120 a week plus $99 for the apu for 40 more weeks. Mileage is .19 a mile. I personally set aside 30% for taxes I was 1099 for a bit before coming here and rather know that I will get some back at the end of the year.

 

So much for Ochelata, got swapped off to run a load up to Illinois with a reload heading back towards Sapulpa so I could get my APU fixed after rescuing the load. More miles, still routed in... good deal!

Loving this company so far.

I should be in Sapulpa sometime tomorrow to drop my trailer and get some work done.

 

Fixed tractor payment is $120 regardless of the year. A 2014 is $.22 per mile variable.

The schedule is based on you being able to run an average of 2800 miles a week till the truck is paid off. Average more and you'll pay it off sooner, average less and it will take a little longer. For a 2014 is 260 weeks, aka 5 years. 12's abnd 13's are based on 208 weeks, a 10 is based on 156 weeks.

2014's come with APU, Fridge, Invertor, and Bambi guard. All other years you'll have to pay for these, if you want them, unless they were previously installed. If you get an older truck with an APU installed it "may" still have a side note to pay off the APU.