Would you accept this offer?

Discussion in 'Questions From New Drivers' started by Solo Soul, Jul 21, 2021.

  1. JustCallMeDriver

    JustCallMeDriver Light Load Member

    May 5, 2021
    That's not how the IRS works. They use their limited funds (rich people control the government and therefore control the purse strings and mission of the IRS) to go after targets that are most likely to yield success. That means they go after people who can't afford the best lawyers, at a rate extremely disproportionate to the rich people and corporations they go after, even after accounting for how many more average Joes there are than the wealthy elites and the Forune 500 companies.
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  3. Cattleman84

    Cattleman84 Road Train Member

    Nov 1, 2017
    The Sticks, Idaho
    Not that flow out of your account is bad, cash flow is actually good... But they will want to know what it is for and how much you owe.
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  4. Rubber duck kw

    Rubber duck kw Road Train Member

    Dec 9, 2017
    You would want it in some sort of an LLC or corporation. You should be asking a good tax attorney type of person these questions.
  5. Solo Soul

    Solo Soul Medium Load Member

    Jun 9, 2021
    On top of a hill
    The proper use of the 120k IMO would be to buy a Mercedez S Class and start a Limosine business, it will be better than delivering food for sure. Or an Owner Operator truck driver could buy another truck with it and lease to some driver. It is starting to make sense to me now. See, that's why I come here and ask questions. I get to learn things
  6. Solo Soul

    Solo Soul Medium Load Member

    Jun 9, 2021
    On top of a hill
    Hey Onwer Operators, go get lots of money from SBA!
  7. Ridgeline

    Ridgeline Road Train Member

    Dec 18, 2011
    I didn’t read all the posts, but I’m a bit ticked about this, the sba isn’t there for personal loans, they are there for business loans.

    Changing “careers” isn’t a business and using a penny of an sba backed loan to me is fraud.

    Now before the op tries to justify this, I know someone else who came here and asked a lot of questions and then went to the government to get “free money” to start a business but bought a boat with it. That’s fraud.
  8. Kyle G.

    Kyle G. Road Train Member

    Jan 23, 2016
    Eastern Iowa
    720 is not a bad credit score at all. Why didn’t you just walk into your bank, sit down with a banker and say, “hey, I am planning on starting a new career soon and would also like to finance a house in the near future. What’s the best way for me to get some money in my account and also give my credit a little boost?” I mean, you should easily qualify for a personal loan for 5k, use that to get through truck school, then pay it off when you start trucking and be set. Save up down payment money as you go. There are also down payment assistance programs out there depending on where you live. But don’t listen to me, I’m no banker and neither is anyone else here. Just go to your bank and talk to them. LOL
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  9. Hazmat Cat

    Hazmat Cat Medium Load Member

    Oct 18, 2019
    I agree with the others that said send the $20k back right now, but before you do that, maybe take it to the casino first. Boom! You’re welcome.
  10. skallagrime

    skallagrime Road Train Member

    Apr 10, 2012
    Thats literally a home loan... 120k at 3.75% 30 year...
    jamespmack and Cattleman84 Thank this.
  11. Redtwin

    Redtwin Road Train Member

    Aug 17, 2012
    PBC, FL
    Depends on where in the country you are. I know in my area, garbage men make less than $1k per week based on the job listings I see.

    Also, unless they show me pay stubs or tax returns, I don't believe what any truck driver tells me they make.
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