To go owner operator or not. I need input!

Lol. Love you, man.

 

Like what?

 

sheesh, now i gotta look up some more...

 

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.......

 

$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.

 

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

 

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.

 

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

 

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