Truckers Report Jobs

Find Trucking Jobs

Company Driver Company Driver Dry Van Dry Van Flatbed Flatbed Refrigerated Refrigerated Specialized Specialized Owner Operator Owner Operator
More Trucking Job Searches ⌄ Fewer Trucking Job Searches
⌃

The Good, The Bad, The Honest Truth of a New Roehl Lease Operator

Discussion in 'Roehl' started by MayhemTrucking, Dec 28, 2010.

Page 60 of 121
  1. Sep 17, 2011 #591
    MayhemTrucking

    MayhemTrucking Heavy Load Member

    854
    236
    Mar 23, 2010
    Denham Springs, La.
    0
    Sitting in Ozark,AR at the loves till my del. in the morning in fort smith. man what a crappy loves to park at.. geeezzzz!
     
    MayhemTrucking, Sep 17, 2011
    MayhemTrucking, Sep 17, 2011
    #591
  2. Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  3. Sep 17, 2011 #592
    MayhemTrucking

    MayhemTrucking Heavy Load Member

    854
    236
    Mar 23, 2010
    Denham Springs, La.
    0
    yep just missed there, it might be my "home" terminal but i try to spend the least amount of time i can there. lol
     
    MayhemTrucking, Sep 17, 2011
    MayhemTrucking, Sep 17, 2011
    #592
  4. Sep 17, 2011 #593
    Mattkujata

    Mattkujata Medium Load Member

    309
    129
    Oct 25, 2010
    Ohio
    0
    I'm at a flying j on I-75 in KY. 500 mile weekend... I got 15 days to go on my 36 day RDO and I'm biding my time now until I can get going on this lease program. I'm pretty excited.

    I've been talking to a few guys that just entered the lease with Roehl. One of them set up a LLC, and another did a sole proprietorship. I was wondering if any of you guys did the same thing. If so, is it an arduous process? What are the practical benefits?
     
    Mattkujata, Sep 17, 2011
    Mattkujata, Sep 17, 2011
    #593
  5. Sep 17, 2011 #594
    MayhemTrucking

    MayhemTrucking Heavy Load Member

    854
    236
    Mar 23, 2010
    Denham Springs, La.
    0
    MayhemTrucking, Sep 17, 2011
    MayhemTrucking, Sep 17, 2011
    #594
  7. Sep 17, 2011 #595
    Mattkujata

    Mattkujata Medium Load Member

    309
    129
    Oct 25, 2010
    Ohio
    0
    Nice, thanks for the links. I was looking at a LLC. Are you saying a sole proprietorship is less headache than a LLC? And can you talk about some of the benefits?
     
    Mattkujata, Sep 17, 2011
    Mattkujata, Sep 17, 2011
    #595
  8. Sep 17, 2011 #596
    MayhemTrucking

    MayhemTrucking Heavy Load Member

    854
    236
    Mar 23, 2010
    Denham Springs, La.
    0
    some excepts from post on here about it.

    Any LLC can be owned by a single owner. There is no restriction.

    Second LLC is a flow through entity that does not pay tax. The income flows through it.

    Third.
    It shields personal liability to an extent.

    You are the owner of the buiness and will be sued.
    You are the stockholder of the business and will be sued.
    You are the owner of the truck and will be sued.

    And last......
    You are the driver of the truck and personal liability is there as well.

    The end result is the same. As a sole proprietor you pay the entire portion which is because you are an owner.

    As an LLC, you are the sole owner. You will pay the taxes on the earnings just like a personal if you run it as a LLC and not as a S corp under Corp rules. If as a corporation, you would then be an employee and the corp would be paying the employer share and you the employee share.
     
    MayhemTrucking, Sep 17, 2011
    MayhemTrucking, Sep 17, 2011
    #596
  9. Sep 17, 2011 #597
    Mattkujata

    Mattkujata Medium Load Member

    309
    129
    Oct 25, 2010
    Ohio
    0
    That doesn't look good, lol. So in your experience, as a sole proprietor, what are the benefits? I mean, why would I do it? For example, having a business means having a business account, which makes tracking business expenses a little easier.
     
    Mattkujata, Sep 17, 2011
    Mattkujata, Sep 17, 2011
    #597
  10. Sep 18, 2011 #598
    paoldschool

    paoldschool Heavy Load Member

    896
    297
    Aug 8, 2010
    Mount Jewett, PA
    0
    There are alot of things to consider beyond just liability. How the taxes are paid is one, and how you are paid is another. There are alot of other things to consider also. If you have a college near you, alot have a small bizz development center, you might want to call and enquire. They will help you decide how to organize your business, as well as help you to develop your business plan. Most do it free of charge also. Another good source of general information is the Small Business Admin at www.sba.gov, and there is OOIDA, which will give you lots of trucking business information. Make sure you have ALL of your i's dotted and t's crossed before you sign the lease contract. If you do not have a workable plan in place you will fail. Spend the time and a small amount of money and explore your options, and make sure you go in with both eyes open.
     
    paoldschool, Sep 18, 2011
    paoldschool, Sep 18, 2011
    #598
  11. Sep 18, 2011 #599
    DrFlush

    DrFlush Road Train Member

    1,297
    2,707
    Mar 22, 2011
    Upstate NY
    0
    An accountant is usually a great source of knowledge for tax and also liability information. Remember that while federal tax is the same, states vary so be cautious of info you may get online
     
    DrFlush, Sep 18, 2011
    DrFlush, Sep 18, 2011
    #599
  12. Sep 19, 2011 #600
    Mattkujata

    Mattkujata Medium Load Member

    309
    129
    Oct 25, 2010
    Ohio
    0
    Thanks for the good advice guys.
     
    Mattkujata, Sep 19, 2011
    Mattkujata, Sep 19, 2011
    #600
  • Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

    • Page 60 of 121