Taking the plunge. My journey as an O/O.

Discussion in 'Ask An Owner Operator' started by Farmerbob1, Jan 7, 2019.

  1. Long FLD

    Long FLD Road Train Member

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    It’s fairly cheap the put new bushings on Freightliner suspension. There are only four of them. But yes, you are correct. Where the spring connects and pivots in front of your drive axles there is a bushing in there where the bolt goes through.
     
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  3. DUNE-T

    DUNE-T Road Train Member

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    Hmm, I always knew it's the other way around. If worked has been performed in 2019, then it's tax deductible for 2019, does not matter that it was paid for in 2020.
    It works the same if work has been started in 2019, but finished in 2020, it still can be deducted for 2019.
    In the grand scheme of things it probably does not matter much, but still, gotta find out what's the right way
     
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  4. 062

    062 Road Train Member

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    I had a couple loads that the brokers paid the last day of 2019, but didn’t hit the bank until the 3rd day of 2020. I’m not counting those as 2019.
     
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  5. DUNE-T

    DUNE-T Road Train Member

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    You are such an outlaw ;)
     
  6. 062

    062 Road Train Member

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    The way this year started I figured it would make me feel better at the end of the year.
     
  7. Rideandrepair

    Rideandrepair Road Train Member

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    69B9C9EA-5611-4272-AD14-DB3355F97286.png
    Look for a gap around the pin. I replaced mine with ATRO polyurethane “ anti- walk “ design. I’m not sure they’re my better than originals.Definitely a rougher ride, than the soft originals. Looks like they’re going bad, after only 4 yrs.ATRO products overated.
     
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  8. Farmerbob1

    Farmerbob1 Road Train Member

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    I will try to remember to update with what I find out.

    Since Crete floated the payment, not me, there is a good chance they deducted my maintenance account long before they made the payment.

    Sort of like when I make an online banking transfer between accounts at my bank. When I authorize the payment, it instantly comes out of my account being debited, but the payment is not actually applied for a couple days.

    If that is how it worked, I might be able to take the deduction.

    We shall see.
     
    Last edited: Feb 26, 2020
    Reason for edit: Clarity
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  9. loudtom

    loudtom Road Train Member

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    I think you can choose to record your income and expenses at invoice date, or at the date that money goes in or out of the account. You can't mix and match, and whatever you choose to use for your first year you must continue to use.
     
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  10. Farmerbob1

    Farmerbob1 Road Train Member

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    Another thing to think about. Thank you.
     
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  11. RStewart

    RStewart Road Train Member

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    I'm glad to see you still plugging along. You've done pretty good, all things considered. I think I'm most impressed by you sticking with your plan regardless of all the naysayers that came along. Plenty of people have been successful running on a mileage plan, it's just tougher to do and you're limited to what you can earn.

    I know you did it to ease the transition but get away from ATBS. They are not a good choice for your bookkeeping/taxes. Find a good trucking accountant and have them do you bookkeeping/taxes for you if that's the route you're going to go.
     
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