Some numbers for new O/O
Discussion in 'Ask An Owner Operator' started by DUNE-T, Aug 23, 2018.
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Tug Toy and HopeOverMope Thank this.
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There is a very solid accounting system that Kevin Rutherford proposes. It is not even that much his program but the very method of organizing all the cost aspects of being o/o. Nothing wrong with his program though. For any owner operator trying to keep truck of numbers it is a good way to go.
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Under President Trump's new tax plan, effective this return, 20% of your profit is now a full write off.
Yeppers. Worst President ever. -
My number, smoked cleared, dust settled is $128K. Now I think the per diem comes off of that first, that's like $35K, let's say $38K for easy math, so that's $90K. Let's say after any other deductions it makes it to $80K. So that's another $16K after the new tax cut.
And if you're accountant isn't aware of this, fire the dildo, and get a real one. -
Last edited: Jan 15, 2019
Dave_in_AZ Thanks this. -
Accounting? What’s that? Add numbers with calculater and give to tax Lady. She’s an accountant. For a fee She will do all the organizing and math, but with only 1 Truck, I think I can handle it, just like everything else.I never make any money, unless when applying for a loan. Then Im rolling in the dough. ( Even though Im applying for a loan) Lol. I’m small potatoes. Don’t need Kevin Rutherford to teach me accounting. That Guys done more Trucking in his head than any I’ve seen. Lol
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