Well, he can - it's just they won't be correct in any way, shape, or form. :lol:

 

I assumed these drivers would be running legal. I also said that a new driver cannot make $4000-$6000/mo unless he or she is an independant. That is very specific.

 

I would never say that a new driver could not make $4,000/month, but it isn't likely with most companies. I would also not say that all new independent will clear $4,000-6,000/month. Being in business doesn't guarantee you a certain amount of profit. In fact, you are not guaranteed a profit at all. An independent should make at least $4,000/month, but it is not guaranteed. I have met a few independents who were not earning that much. If you run cheap freight you may not make that much money. There are independents going out of business every day because they don't know how to run their business. We are living in one of the most challenging times in modern history. If you are going to make it you must be at the top of your game. You cannot run cheap freight and survive. You also cannot spend money frivolously and make it. Keeping debt low is paramount. With low debt and decent rates, you can survive a slow economy.

 

Lowrange,

You sure got me confused and after reading your posts I'm wondering if the tax man isn't knocking on your door ?
I am not a O/O, (Hope to be soon) was a company driver for years, and worked as a Manager for the Federal Gov. I am trying to educate myself by every post I read both positive and negative ones however, I call your 118,000 dollars per year Gross money. Deduct all your expeses to the truck, which should be an Irs deduction on your business for tax purposes. Deduct /pay yourself a salary, and I believe wether you are incorporated or an LLC that will determine tax brackets, then your net pay would be your pay after taxes. Just trying to make sense out of your gross figures and profit ?

 

I'm sure glad the hobby trucker is gone, and his minion Charged appears to have left with him. Hopefully issues like this will be easier to explain now.

 

I was sorry to see him go. I followed his progress for several years off and on. The last thread was down right bizarre in that the posts were increasingly erratic, aggressive, and had a hint of desperation.

#2 called it right when he said it was a slow death. Can you imagine 200k in equipment and gear depreciating over several years much like trying to sell a new car after it is driven off the lot, the value takes a massive plunge.

I thought most folks comments were actually very helpful but he seemed to be unable to process objective info slightly colored by folks just being themselves.

I work with a guy right now who is 74 who had to go back to work because he started a business with his retirement money and it went south. Dying at a desk, what a deal. I wonder if Steve is not facing a similar fate. I would not wish that on anybody and hope he makes it work out.

The concept of profit and ROI vs. buying a job that only creates a wage and no more is a critical concept that many never quite grasp and down that road lies ruin.

 

I'm a lot better off owning a job than the poor bastards whose job owns them.

I don't have any illusions of getting rich driving a truck, but I make a good living doing something I love while seeing this beautiful country of ours. Nobody tells me when to go or where. I make my own destiny. You can't measure that with financial ratios.

While the great masses of men live lives of quiet desperation, I roll on down the road with a smile on my face and a few more dollars in the bank.

 

If you are incorporated then you can provide yourself benefits and deduct the costs as expense under the corporate umbrella. You are an employee of the corporation. You can pay yourself a salary, set up a 401k or any type of retirement program you wish. You could pay yourself a small salary and take any profits as dividends. You are not required to pay social security or self employment taxes on dividends. At least not yet.