Operating authority

[gmh]

Incorporate vs. LLC is a decision where you need to ask lawyers and accountants, truckers, not so much. Actually the accountant is the more important of the two. You won't avoid much in the way of liability, as you will be personally signing most loan and lease agreements as well as having the company liable. The bigger factor will be the taxes.

[Double L]

I thought LLC would be better in the event that something happens you wouldn't lose EVERYTHING you own! Before I forget I planned on getting an overweight permit so I won't have to refuse the good paying loads that are heavier. Another reason is cause I know the truck is gonna be heavy so might as well compensate for the extra weight by going with a 120,000 lbs overweight permit.

P.S. About me buying a Volvo I was just kidding, if I'm gonna buy anything for a first truck it's a Freightliner. I was born and raised around Freightliners and I've been impressed with them but I will admit I wasn't impressed with the early Century Class and Columbia's at all. I'm still trying to get use to the Cascadia, only thing it's missing is a visor! But in my opinion the best Freightliners are the FLD112/120.

[kc0iv]

Be careful on going to a community college with the idea of going on to a 4 year college later. Many time you will find the community college credits won't transfer to the 4 year school.

As gmh said in most cases you will have to personally sign ( at least guarantee ) all loans and lease agreements.

I do like your attitude. No matter which direction you take I think you can get it done.

I would suggest you listen to GMAN he has years of experience in this industry and has been an O/O since Noah was building his first boat.

kc0iv

[Double L]

I plan on following EVERY aspect of my company very very closely, I have a hard time trusting people and I respect GMAN and have asked him for advice on several occasions. I appreciate the kind words KC! Like I said before I'm about honesty, trust, and making money and I feel that is my good quality.

[Mack2]

I thought LLC would be better in the event that something happens you wouldn't lose EVERYTHING you own! Before I forget I planned on getting an overweight permit so I won't have to refuse the good paying loads that are heavier. Another reason is cause I know the truck is gonna be heavy so might as well compensate for the extra weight by going with a 120,000 lbs overweight permit.

P.S. About me buying a Volvo I was just kidding, if I'm gonna buy anything for a first truck it's a Freightliner. I was born and raised around Freightliners and I've been impressed with them but I will admit I wasn't impressed with the early Century Class and Columbia's at all. I'm still trying to get use to the Cascadia, only thing it's missing is a visor! But in my opinion the best Freightliners are the FLD112/120.

I think if your going for that 120,000lb permit your going to have to have a tri axle tractor and a tri axle trailer.

[Double L]

I don't plan on hauling 120,000 lbs but it was just a nice round figure I felt like using.

[gmh]

What kc0iv said: LLC might limit you, but the first thing any plaintiff's attorney is going to do is show that your company is a legal fiction, only used to get out of paying claims for doing damage to people like my poor client.

And yes, be careful with the community college. I used to work at one. Make sure you work with transfer counselors both at the CC and wherever you plan to go for the remainder of your time. This will minimize your time and money spent. Heck, works that way for four year schools.

Couple of other things: I have an MBA, and my parents had a small business. The tangible things you can learn that will benefit you running a business can be learned in just a few classes. Accounting, finance, and law being the three biggies. You can take them anywhere at any time. You may want to consider another major. You may find something you like more than trucks (given your enthusiasm, I doubt it though) Or something should you grow to either dislike trucks or dislike owning them. Try not to think of college as a technical school, teaching you how to do a job, but as a way to broaden your horizons.

[Cluggy619]

Hmmmmm.

I hear alot of talk. That's not a good sign. You should be asking questions, not giving information on what you are going to do.

You got time. Your only 17. Get thru your school first. Take small steps, with your goals in mind.

[Double L]

I always had an interest in politics, law enforcement, and criminal justice. I already took business law this past semester and I'm gonna take accounting and business technology next year.

[BigDiesel]

Now my next question is whether to Incorporate or LLC. BanditsCousin I plan on getting my business degree at the local community college. I already have college credits from taking duel credit courses so I may just go for the associates which is only 60 credit hours but by the time it's said and done I should only need to get 44 credits if I remember correctly. I don't remember how much the bachelors degree is but I'm gonna be lazy and just get the associates for the time being and if I need the bachelors then I'm gonna go get that if need be. But I don't remember if the local community college even offers business classes online or not.

Maybe I missed something here.... The OP is in High School and not an adult in the eyes of the law, and is wondering if he should incorporate ???

Again putting the cart waayyy in front of the horse.....

[Double L]

So pretty much your telling me it's wrong to think ahead and plan my future?

[gmh]

Maybe I missed something here.... The OP is in High School and not an adult in the eyes of the law, and is wondering if he should incorporate ???

Again putting the cart waayyy in front of the horse.....

Ach, to be young and have dreams again.

[Roadhog]

Ach, to be young and have dreams again.

If I could do it all over again... I'd change everything.
I always wanted to be a Scratch and Sniff Ad Designer.

[gmh]

Ach, to be young and have dreams again.

If I could do it all over again... I'd change everything.
I always wanted to be a Scratch and Sniff Ad Designer.

'Trucker' and 'scratch and sniff': a match made in heaven.