this is for all cargo van drivers ?
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chefdennis
Veteran Expediter
Thats up to you and your work ethic....do guy do it? sure...but that doesn't mean everyone does......we have no idea what your expenses are, and i am pretty sure they are different then mine....
I drove for a 2 different guys last year and after paying for my fuel and splitting 60/40 I cleared 21k...I also sat in Laredo, Texas for a month...
Dakota
Veteran Expediter
I drove for a 2 different guys last year and after paying for my fuel and splitting 60/40 I cleared 21k...I also sat in Laredo, Texas for a month...
Stop bragging about your vacation in Laredo
I would agree with CHEF it depends on YOU. If you are a O/OP I'm saying yes and more in a cargo van if you stay out 3 to 4 weeks at a time. All i know is back in 2003 to 2005 each year I MORE THAN DOUBLED that in a straight truck AFTER TAXES AND exspenses. BUT YOU MUST PLAN AHEAD FOR DOWNFALLS . I unfortually DIDN'T , I thought that bright sun would come up every day. BUT IT DIDN't and 2006 and 2007 DARN near killed me. SO JUST PLAN FOR RAINY DAYS . J M O
That's too general of a question to be able to be answered with any degree of faith and trust in the answer. Nevermind the wild variances you may find in gross revenue alone, everyone considers expenses differently.
One (sounds like perhaps TJP) might not consider their cellphone expenses as an expense because they would have had one regardless of whether or not they were expediting; one might not include their internet costs for the same reason; some don't know how to really calculate all those hidden fees, like bank charges, interest, service fees, exchange, etc.; some don't include their meals on the road as expenses, while others do; some paid outright and upfront for their truck and they don't consider that cost averaged over the life of the truck; there are tax write-offs, like the 'per-diem allowance' which lessen your taxes, but is it really an 'expense' as claimed?; Do you mean, can you clear $30K/yr net profit on your income tax forms, or in your pocket?; some will park their truck on a long layover and rent a car and do whatever.. sure they'll use the rental as an expense, but was it really a necessary expense of the business?; Some will stay in motels sometimes and others won't; Some have fancy trucks and others don't; Some are able to do a lot of the everyday maintenance and basic repairs on their vehicles and others don't have a clue;
When it comes to self employment, there is no way you can compare apples to apples because everyone's eating a different type of apple and using a different set of accounting criteria to suit their own needs.
You've heard it said before.... 'it's not a job/career/occupation/profession/whatever, it's a lifestyle'... and just like you would need to learn to work the boundaries of your particular carrier to your advantage, you also need to learn to work the expenses to your advantage to suit your lifestyle.
But generally, and in one word? I'm going with 'no'. Anyone else?
ebsprintin
Veteran Expediter
If you lie to yourself, yes. Otherwise, no.
eb
eb
considering an "experienced" CV Owner "should" bring in about 50-60,000 a year...then take off expenses....you'd be close...
If u will go down to the bottom of this screen and plug in ur numbers under mileage and routing, u will get a big reality check if that formula is the gospel.....regress, in 1981 I had a company car, expense account, benefits, and grossed 31k , now that was a deal.
nightcreacher
Veteran Expediter
when my dad was alive,he was a dentist.after all expenses ,taxes and help and everything,he only cleared $35000,and he was the 1st dentist in the USA to gross over $100000.We did have a horse farm for a tax shelter
Yes.. and here is why. (Not trying to open a can of worms) If you are an owner or lease your van you have a ton of expenses that are tax deductible. My wife has a 'real' job, pays extra for taxes and we get most of it back due to my career. That has to be figured in. You need a good accountant that knows this business and keep good records. That said... I never made less than $30K a year in expediting. One year it was 3 times that, but we won't see that again. BTW, I do own a house with a mortgage and a kid in college, so all of that helps us too.
If I get 50 percent of my gross or a little more,,I'm happy, there is always something to fix, or family problems, or if u are one of those that has a vehicle payment, u r even having more fun making it out here. My van is basically my house, so I'm not over whelmed with house payments and such, no rent to pay, just stay with the kids when I'm in or wanna come in, usually for xmas or Thanksgiving and after that ,its time for the road.
Dakota
Veteran Expediter
If I get 50 percent of my gross or a little more,,I'm happy, there is always something to fix, or family problems, or if u are one of those that has a vehicle payment, u r even having more fun making it out here. My van is basically my house, so I'm not over whelmed with house payments and such, no rent to pay, just stay with the kids when I'm in or wanna come in, usually for xmas or Thanksgiving and after that ,its time for the road.
So you live in a mini motorhome