To go owner operator or not. I need input!

Discussion in 'Experienced Truckers' Advice' started by retlow8, Feb 25, 2018.

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  1. retlow8

    retlow8 Light Load Member

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    Not so much giving up my benefits but I would have to pay more to have the benefits I have.
     
    retlow8, Feb 25, 2018
    #21
  2. Puppage

    Puppage Road Train Member

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    Lol. Love you, man.
     
    Puppage, Feb 25, 2018
    #22
  3. Scooter Jones

    Scooter Jones Road Train Member

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    Like what?
     
    Scooter Jones, Feb 25, 2018
    #23
  4. buddyd157

    buddyd157 Road Train Member

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    sheesh, now i gotta look up some more...
     
    buddyd157, Feb 25, 2018
    #24
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  5. buddyd157

    buddyd157 Road Train Member

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    why is having a faster truck so important..do you think that going faster will use less fuel..??

    you actually DO RIGHT NOW....HAVE FREEDOM....

    you get days off, no washing/waxing your truck, no PM servicing, etc,etc.

    as a company driver, you got NO HEADACHES.......
     
    buddyd157, Feb 25, 2018
    #25
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  6. DSK333

    DSK333 Road Train Member

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    $1.6 a mile is chump change, driver. Stay a company company guy. You're looking at rougly $2500 a week after fuel but before all of your expenses and other things the company already pays for. The added revenue wouldn't be worth the headache from where I'm sitting. However, some people just aren't cut out to be company drivers and the money isn't their sole motivator.
     
    Last edited: Feb 25, 2018
    DSK333, Feb 25, 2018
    #26
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  7. Scooter Jones

    Scooter Jones Road Train Member

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    Here's what I think.

    Some company guys start threads on TTR feigning as though they're looking for guidance on whether or not they should become an owner operator.

    When in reality, they are just looking to underscore their own reasons why someone should not become an owner operator.

    Which is usually affirmed by other company drivers who have never been an owner operator, or at best, failed miserably at it ;-)
     
    Scooter Jones, Feb 25, 2018
    #27
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  8. DSK333

    DSK333 Road Train Member

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    He'll be paying higher insurance premiums and he'll also be paying the full amount of Social Security and Medicare instead of half matched by the company. That's an added increase of 15.7 percent right there in Federal taxes (Self Employment Tax). The health insurance will be much higher also considering he won't be part of the company's group rate.
     
    DSK333, Feb 25, 2018
    #28
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  9. Scooter Jones

    Scooter Jones Road Train Member

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    I pay less and have better health insurance on my own as an owner operator. SE tax portion is fully deductible. Not only that, structure your business in the right way and you can pay very little in taxes altogether like I do ;-)
     
    Scooter Jones, Feb 25, 2018
    #29
    DSK333 Thanks this.
  10. DSK333

    DSK333 Road Train Member

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    You can't deduct the entire 15.7 percent. Only half. That's still something he didn't have to pay for as a company guy. I'm glad to hear you've found affordable adequate health insurance. It's the exact opposite story on my end and others close to me. The rates are too high for the rock bottom plans with sky high deductibles.

    10 Tax Benefits for the Self-Employed
     
    DSK333, Feb 25, 2018
    #30
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