Absolutely incredible! Thank you so so much sir. I am super excited to get this done. first is to get the finances in order and ill be joining the club!
These titles for the trucks, are they MCO (manufacturer certificate of title) or are they just a certificate of title? Have u ever heard of MCO being given?
You say that being owner op if done cash heavy is better than company driver, newer guys like me see these owner ops with paid for equipment that still are making similar after expenses to much of the top end company & IC drivers, less than 130k a year net. What would you say is an average income for owner ops that run a good solid business, not expecting the driver to be a diesel maintaining & fixing their own stuff, nice home/work life balance going in the good, average & down markets? Is it really worth it. I think so since I like 1099 much more but it needs to be a lot more than top company pay in a decent market to make it make sense to me.
Not a pretty week but pretty weak. I come out on top of many owner operators but I’m probably top 10% in the industry. I’ve been doing this almost 20 years. O/O is just better for not being totally controlled. Don’t go into it if you think you’re going to make more money. Take 40 percent and 60 is pretty much not yours
@@MikeBRollin I completely agree. I’m tax savvy bcuz it’s my middle finger to tyranny & it’s my money first. So for being tax savvy that’s why I became Independent contractor, IC, last January and it’s been really good so far. W2 is how they got everyone. It’s an obligation to pay taxes be slave!
@@CForged the thing is if you’re tax savvy like me & Mike, being an OO would be much more profitable if done right because the income #’s get bigger. Even though the expenses get bigger, they offset as tax deductions. W2 employees don’t have that so even if u make 90-120k as employee the taxes are hell not as much of a legal way around them. And since the #’s get bigger, that 1099 might show more & qualify you for better loan/mortgage rates & loan amounts or access to Capitol to expand the trucking business and/or other side businesses.
Absolutely incredible! Thank you so so much sir. I am super excited to get this done. first is to get the finances in order and ill be joining the club!
Right on!
“Be fearful when others are greedy, and be greedy when others are fearful”
I believe this is the warren buffet quote you are looking for.
That one too. Most people are too scared to jump on an opertunaty when it comes
Thanks for your sincerity Sir.
My pleasure!
oh shit, you pulled out the whiteboard =] Thanks for the video brother. Very informative.
Lol. Thank you
Thank you sir. Much appreciate for the info
Glad to help
Thanks for the advice👍
You bet!
Great video. If you're not a good money manager thats a recipe for disaster
That's why I keep on doing these videos. I intend to teach everyone how to manage their business/money in such a way as to make them bulletproof. 🫡
These titles for the trucks, are they MCO (manufacturer certificate of title) or are they just a certificate of title? Have u ever heard of MCO being given?
I've not seen that. These titles are front the state.
You say that being owner op if done cash heavy is better than company driver, newer guys like me see these owner ops with paid for equipment that still are making similar after expenses to much of the top end company & IC drivers, less than 130k a year net. What would you say is an average income for owner ops that run a good solid business, not expecting the driver to be a diesel maintaining & fixing their own stuff, nice home/work life balance going in the good, average & down markets? Is it really worth it. I think so since I like 1099 much more but it needs to be a lot more than top company pay in a decent market to make it make sense to me.
130k / yr is pretty weak for an owner opp. That being said, the huge tax rate for employees is enough of a reason for me to stay 1099.
Not a pretty week but pretty weak. I come out on top of many owner operators but I’m probably top 10% in the industry. I’ve been doing this almost 20 years. O/O is just better for not being totally controlled. Don’t go into it if you think you’re going to make more money. Take 40 percent and 60 is pretty much not yours
@@MikeBRollin I completely agree. I’m tax savvy bcuz it’s my middle finger to tyranny & it’s my money first. So for being tax savvy that’s why I became Independent contractor, IC, last January and it’s been really good so far. W2 is how they got everyone. It’s an obligation to pay taxes be slave!
@@CForged the thing is if you’re tax savvy like me & Mike, being an OO would be much more profitable if done right because the income #’s get bigger. Even though the expenses get bigger, they offset as tax deductions. W2 employees don’t have that so even if u make 90-120k as employee the taxes are hell not as much of a legal way around them. And since the #’s get bigger, that 1099 might show more & qualify you for better loan/mortgage rates & loan amounts or access to Capitol to expand the trucking business and/or other side businesses.
Can I get a loan for a down payment from my bank to finance a used tractor to lease on to the company I’m driving for?
They will loan you money for the truck... down payment comes out of you. Mabey borrow from a friend or family.
Learn how to be very thrifty and cheap
Yes sir!