I'm thinking of bailing out
 

I have owned my own trucks since '93 and every year I have grossed more and feel like I have neted(sp?) less and all the important people in my life hurt when I'm gone so,when an offer to stay home more is put before me I like to think about it and I have one again.
The question for now is,I am two years deep into a five year note on my truck and I'm not sure about what kind of shape I'm in with IRS vs dep'r + worth of truck,'05 KW W9 w/most every option i.e./dura brights,painted tanks,wet line,all factory stainless,full locks on and on.The way I feel now if I could cut and run with enough to bail me out I would.
Does anyone else have a crying towel as wet as mine :?: :?: :?: I do not see bright times ahead for O/O's just look at the way the "J" now post's their fuel price on their site.
"My heart is in truckin' but, my azz is in debt" :lol:

I think most owner operators are having a difficult time, especially if they are heavy in debt. We are in a slow down. I am sorry about your situation. Things will improve, but it will likely be after the first of next year before much improvement is seen. Before making any major decision, it would be good to find out your situation with the IRS. I would also probably be good to find out what your truck is worth and the pay off. If you can hang in there, you may be much better off than you think. 8)

Slow down started a bit early this year

Always slow before an election.

Mudawg, first one to talk too is your accounatant, he will tell you how to go about this, keep in mind there will be capital gains tax also, UNLESS you invest in another buisness.

Newer higher priced trucks are usually tough to sell, only because a brand new one is only a "few dollars"more. That is unless its a "steal" which I'm sure you don't want to give it away.

I also have grossed more BUT I also netted more, you say it as if you don't know whether you did or not.

Sure costs have gone up and so has operating expenses, BUT all in all I'm still doing better than the previous year.

Thanks for the words of wisdom guys.When I get home it's time for an appointment with the accountant.I know they say better times are ahead and I do have the seasonal gig with UPS coming up but,right now sitting in Cal. with nothing but time to think about the current situation it gets me to wonder why do this???
I don't want to make any rash decisions that will hurt me in the long run but if by the first of the year things are still looking bleak it may be time to get a job with a future.

Did you ever look into local driving? There are so many opportunities out there. In my area good drivers are always in need. For instance, local large construction company's looking for equipment movers, dump trailer work. Big construction/building material company's a lot of times are union jobs with benefits. The company's by me pay fairly well too. While you are waiting to see how things are going to pan out, do some local research. I am sure you can find some local O/O work if you dig around enough. That might not have the benefits you are looking for though. But it will keep you close to home. I enjoy local work, but like to go out every once and a while. I hope things work out for you, good luck.

sidman that thought is in my head and I have done some good local jobs in the past but,they all seem to be very seasonal.Have hauled oil in the winter and dirt in the warmer months but,there are times the two over lap and you end up getting two outfits mad you can't be in both places at one time.I do like what I do now,excapt when things get slow and the doe stops coming in.I've got to learn to say no to loads going West of I-35.
I guess I'm just in a truckin' depression and things will come around.

Well, this year, i've grossed less, net less, and worked less...
I'm still with the same company, for 9+years, so it's easy to compare.
I was thinking in a few occasions, if i should move in a different field, but never, never, was even think, about going to be a company driver again! :shock: :D

Yeah, I get them every once in a while, they don't last to long. 8)

I never had a slow down prior to an Election