What is needed to be a Owner Operator?

As for taxes, you should save money every week so you can make quarterly tax payments. You will need a tax professional to help you calculate your tax liability so you know how much to send in every quarter.

If you have an employee, you will most likely send in employer reports at least montly. The frequency is dependent on the amount you withhold.

 

You need to spend some time doing research on rates and available freight opportunities. You may or may not be able to stay busy hauling furniture locally. Unless you plan on leasing to a carrier you will need motor carrier authority. There are a handful of states who have intrastate authority for those who only want to haul within a single state. You will need insurance, UCR, IFTA, base plates and permits and a truck. If you plan on hauling things such as furniture then you need to plan on buying load straps and blankets. Judging from your posts, it would probably be to your advantage to get your CDL and find a company that will hire you to drive their truck before you go out and spend thousands of dollars on a truck and all the other extra's without having any knowledge about this business or how to profitably operate a truck. At this point, you don't even know if their is a need in your area for another truck. You also don't know rates or if it can be done profitably. Starting out running your authority is NOT cheap. Insurance and base plates alone will be several thousand dollars, not to mention getting your authority and buying a truck. I am glad that you are asking questions before you start spending money. But, I think that you have a lot of unanswered questions which should be answered before you get to the point of buying a truck. I would also suggest that you go ahead and get your class A rather than your class B. It will offer more flexibility and opportunities should this not work out for you as planned.