What is your operating cost per mile (poll)?

I'am kinda slow ...lol

 

Last year was $17350.

 

I always include health costs. Since a company Job would include some coverage. Wife and I average about $12k per yr. Total cost, including premium. Last year, I worked 147 days. Grossed $130k, kept $67k of it. After personal tax deductions, paid tax on $37k. Because of my Property tax, homestead exemption, I had a credit towards my State tax. Approximately $1300 maybe? Not sure exactly. Had to add a $400 payment to the State. Roughly a total of $1900 for the year. Because of over estimating my income at $45k, I qualified for a bit more subsidy for my health Ins. through the exchange, than I used. I forfeited $90 a month premium tax credit by paying a higher premium every month. The $1080 gets applied towards my Federal Tax Liability. Bottom line, I got $400 back from the Feds. Actual amount I paid them was about $700 for the year. Accountant charges $450 to do returns, using the numbers I provide. Bottom Line, taxes we’re $2600, accountant was $450. Total just over $3000 for the year. Cost Me $450, and waiting on my $400 refund from the Feds to settle the numbers. Works for Me, makes it simple. No need to pay quarterly, or get hit with a big tax bill. Kind of like claiming 0 insted of 1 or more as an employee. Letting them take a little more, and getting a refund instead of a bill.

 

On my 2014 Volvo 670 for 3 years it was 20 to 25k every year. It was heading that direction for the next year before I sold it and got my new one. I am a firm believer that running new now is the only way for (me) to go. Of course everyone has their own way of running. Mine will be new every 4-5 years for now on with full warranty up front.

 

How much money did you spend on maintenance the first full year with your new truck, or have you not had it that long?

 

Same here, paid a % in dividends, not subject to income or as taxes. The trade off is not paying into SS as much as you would as a Company Driver. Be smart and invest the savings. Start ASAP, so time is on your side. For example, I have 21 yrs. paid into the SS system. I’d have to pay $3000 a year for the next 9 yrs. to get the max credits for the max amount of monthly benefits. I’ll
be 67 in 9 years. The return isn’t worth the amount paid at this point. Better even at this stage to invest the $600 per mo. I’ve had plenty of time to pay the 9 credit years in the last 26 years I’ve been self employed. I chose not to. My choice. Just as long as you understand the risks or results of not paying into the system. The difference fir Me, is $1000 per mo. benefits, instead of $1600-$2400, about $1000 a month on average in retirement.

 

I got rid of my truck in February but are people really spending $0.85 a mile on fuel these days? My fuel costs were never higher than $0.40 a mile.

 

I’d say my operating costs are about $2.00 a mile average right now. Easy math,$1.00 a Mile fuel, .35cpm operating costs including health care, .65cpm pay.

 

Subject to change.

 

Dollar per mile for me. A year and a half ago, it was .33 cpm.