How much money can I make running hotshot trucking
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- เผยแพร่เมื่อ 20 ส.ค. 2024
- How much money can I make running hotshot trucking
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I'm just a normal guy. I tried my hand at being my own boss in lawn care, it wasn't working out for me. Now I use my truck to get paid transporting RV's and other random things across the USA and Canada. Follow me to see where I go and what I see. Leave a nice comment and a thumbs up! Thank you soo much for stoping by! God Bless!
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#hotshot #Hotshottrucking #money
Barely drove 500 miles per day between the two of them. I’d say they’re doing fine. Could easily double that for all of you doubters talking about budgeting for maintenance and taxes. Pretty sure most of it goes right in to savings since they’re never home and I’m betting no kids.
Thank you Robert. We are thinking about getting a woodhouse bed thing put in so it is a legal sleeper on the truck so we can do more miles with the 2 of us. And yes you are correct, We could improve on just one driver alone. Thanks for looking at the miles. Sometimes I feel like it doesn't matter what we say someone has to hate on it. -Darrick
Best is
@Ben A I'm sure they'll be writing off most of their taxes with the depreciation on a brand new truck, miles, business expenses, etc...
Ben A netting $1000 a week is good?
Ben A well 1000 a week is more than what the average American makes. I'm netting $3k a week. I'm comfortable here in Florida with that
When you guys get the freedom of having your own business you’ll understand. I’d rather make less money running my OWN business than to make more slaving away for someone else’s.
That's one stupid answer but whatever flows your boat 🤣😅
@@ronalnunez3311
ok sai
Amen to that.
Ronal Nunez that’s not a stupid answer at all...people so programmed it’s crazy
Agreed, rather make less than be a slave. The great Gary V said it’s all about being happy, do whatever it takes...I’d rather make $89k a year vs $200k and be happy.
I'm a union Ironworker and this is awsome anyone that does this for a living and TAKES the time to break it down for others to follow deserves nothing but praise !! Keep the videos comming !
your husband is lucky to have a smart lady in his life
Thank you very much for the compliment but we do help each other out in all scenarios. I call him my genius hubby 😊
-Cinnamon
Where do people get women like this?
💯 #respect
facts
Do you have a single twin?
This will discourage many and encourage few. ✊ for the encouraged.
Make Asylums Great Again couldn’t have said it any better my self !
Facts
My husband and I are extremely encouraged by this, maybe working for ourselves. We live in Alaska and he works paving roads and working for our local 302 union. We are both in our late 50’s and are waiting for our daughter to finish high school next year so that we can move out of Alaska hopefully to Tennessee. This sounds like a perfect thing to get into . We both have been wanting to travel some, since we never really had a chance to from raising our children at all different ages. This kind of thing could most definitely add income to our retirement, it will also help our last kid with income to go to college. After my husband found this site here, we are extremely excited to learn more about it. Hard work and long hours is something that my husband is use to, not so much me, but I can be. Thank you so much SouthGeorgiaHotShot for all the information that you put out there. If you would like to help us out getting started, by all means we would appreciate anything that you would like to share And congratulations 🎉🎊🎈 to taking on something that most people are just to scared to try. I hope I’ll be able to get more information from you, thanks a lot. Brian and Leslie Cross. REPLY to this message if you want to talk privately and I will give you my home email address. Very, very proud of you...
I’m totally encouraged
This has encouraged me because if you do the math from what they bring home a week. They still bring home roughly 82,000 net yearly. That’s pretty good money
chill out bros let them be I would be exited to own, my small businesss, keep the great work hey that's good money, I bet you're going to make more have faith and keep working don't let this people bring you down. thanks
Thank you Erwin! We appreciate your support!
-Cinnamon
Erwin Torres sonic you are on TH-cam people will make all kinds of comments. Maybe there are some things they can take away from some of the not so friendly comments. For every comment that is not friendly there people like you who say friendly things. This is TH-cam the largest social media platform in the world. That’s just apart of the normal variation. I would like to know if they have made any changes since they are realizing their mistakes. Like lifestyle changes?? Are they on debt snowball kick?? Where do they drive? How do you get started?? This is my first time watching them so I’ll be watching their content.
Awesome Comment They Are Great people they both work their ass off kinda reminds me of my wife and i keep the wheels spinning
What alot of people don't understand is with any new a business your 1st year you will be investing alot into the business to get it up and running. So it is great to make a profit during that 1st year. Keep at it and your profit margins will go up substantially. Most people don't understand this thats why they quit and go get a job. Ask any successful business owner or millionaire and they will tell you this. So you and your spouse are doing good just starting out keep up the good work.
What "investment" is there beyond a truck, trailer and insurance? You have to have all of that up-front before you even start. Everything after that is just routine expenses that will always be present, year after year. I'd imagine that the with a new truck the first year would be the cheapest, after that you're going to run into major repair scenarios. By the time you pay off the truck, you'll probably need a new one so even a truck payment is really just an operating cost.
By the time they pay the truck off it will have 500,000 miles and they will need another one. So the investment is really just operating costs since they will always have a truck payment.
I totally agree. The are hardly any investment costs with that business. Also as stated by others yes the truck payment too will be basically operating cost as that truck in 5 years will be toast on mileage and not worth much to a used buyer. I see what’s left of transport trucks up for sale with huge mileage and a huge price they will never get.
@ Larry Glass I will probably come back and reread this comment several times to help me get through some of the other comments 😬 Thank you for your encouragement 😊 We appreciate it
-Cinnamon
The truck and trailer are definitely investments. We plan on keeping the truck. No sense in going out buying another $70,000 truck when we can just replace the engine if it goes or the transmission or whatever else we need to and costing way less.
-Cinnamon
Good numbers for my favorite Trucker couple! I just hired a dispatcher. He doubled my rates and quadrupled my runs. Night and day turnaround.
Thanks buddy. Hope all is well. Stay safe out there.
I appreciate you guys putting up your numbers. Several commenters have made good points about costs left out. You're putting in a lot of work for what you're making. I hope the numbers improve for you as time goes on. I wouldn't consider it, for that kind of money.
I do the same thing but with an enterprise lease truck. My truck payment is 360$ per week but its a 6 month contract or 65k miles and i get a new one. All maintenance is included in payment. I dont pay for oil changes brakes tires etc.
Yes Austin. Enterprise is a great company to lease from since we include all maintenance. I lease out 1ton dually with towing capabilities - our program design helps owners get running without messing up cash flow and having all of your capital tied into the trucks themselves. If anyone is interested in hearing about it just give me a call. Name: Ivan Hunter, Phone number: 716-681-6700. Email: Ivan.L.Hunter@ehi.com - I work for Enterprise Truck rental out of Buffalo, NY.
you are a smart man. Good thinking.
Thanks for being so transparent! It’s really helpful!
Thank you for commenting and watching Kyle!
Good breakdown of exspences. I hot shotted fore two years. Hauled a lot of oilfield equipment. Made good money, had my own authority. My buisness partner screwed me around and i lost some real nice weekly contracts. I was averaging $700.00 a day., they paid they fuel and motels. Had it mad. Hope to be doing it again soon in Houston.
This instantly changed my mind about hotshot trucking! I can make in a week what they make in a month with a tractor-trailer 53ft..driving locally. not worth it!
You make $6,600 a week?
Thanks for sharing!
I eventually want to get into this biz. I was thinking of getting a heavy duty van and doing what you do.
I've been in freight forwarding for 20 years and I know how valuable hot shot truckers are.
I love the fact that you're a husband n wife team as well.
Keep on truckin!
That number could easily be doubled with an actual tractor trailer with a DOT sleeper. Purchase lease return tractor and trailer to save a bunch of up front money.
No allocation for truck maintenance and replacement or the taxes on income. That is a very thin margin and a lot of work just to hit break even each week.
DOT regulations say that anyone in the passenger seat has to be "on duty" so we are running the same hours as 1 person. We could do way better with 2 of us if we had a sleeper. Anything left over we put aside for taxes and maintenance even though taxes will not be much at the end of the year due to all the things we can write off 😊
-Cinnamon
Yet the cost of your car and food is included. So not thin as it appears.
@@TruckandTravel Does that apply only cause you do not have a sleeper? I thought DOT changed the rule so co-driver could be off duty in the passenger seat? Check DOT revisions.
Loco Jay they did change that. You can be off duty in the passenger seat.
It’s like that even in the big rigs
Great video. Thanks for being straight forward with everything. Some of these people are just idiots.
Why not buy a semi . You can make double what your making . Dry van . And much more comfortable
@Mr Sunshines actually I have for a long time . I know the logistics industry well. My intention wasnt to insult . I own a semi and have friends who hotshot flatbed and car hauling . In the semi world it definitely depends on the company you contract to. Everyone likes what they like I guess
Girl you're very informed documentation is everything I'm very impressed with you I have to do it all by myself I wish my wife was more like you thank you for your video and God bless you and your husband always know your limitation when driving Keep On Truckin
Subscribed!! Love the break down! Reminds me when i was a independent contractor with a moving company. But my Volvo payments were 1500 a week. I still drive a semi for a large company but i been thinking of getting me a nice diesel and pulling a fifth wheel like you guy's. I love how people are bashing for your truck payment yet those same people aren't making the payments for you guys! Gotta love people who aren't motivated to make money but have their opinions
If you both have your cdls, why not just double already ridiculous truck payment and do semis where you can make 2-3x that every week
Not to mention: Fed/State Income tax, Self Employment tax, truck registration/maintenance costs.
Point is, people think owning a business is easy, but once they see all the liabilities (cost/risk), most people start crying.
What are you putting to the “side” for taxes, repairs, tires, etc. have you already made that video?
$1600 - 20%=$320 taxes
Repairs: $200
Tires: $85
Good luck! Your doing what you like with who you like! Living the dream!
Many blessings on all your future opportunities!!!
Thank you Marcus! Whatever we have left after we pay the rest of our bills we put all of it aside for maintenance and taxes. Since we are new to this we have no idea what taxes will look like so we want to make sure we are careful!
-Cinnamon
We also do a weekly update (haven't had time the past couple of weeks) where we go over the maintenance as it comes up
Talk to an accountant. With all the “expenses” and depreciation, your actual taxable income will be much less than “earned”.
It’s a double edged sword! Make sure you also try to get a “healthcare plan”? If possible. Another “write off”
Better to pay for that than pay taxes. At least you’ll be covered and your lady! Better than paying that $ towards taxes.
Good luck.
You can do your taxes quarterly, too. Every 3 months.
You should put 3cents per mile aside for maintenance.
@@TruckandTravel better figure at least 22 % for state and federal , your accountant answer that question with one phone call. You do not want to get be short.....
I just want to congratulate you on the new truck. Second thing I really like the way you are looking at your expenses you are not lying to yourself and the break downs are on point.
Dont worry about the upside down thing that happened with your old truck you did what you had to do to keep yourself rolling in the small business word. I did that my self too took a hit and it’s okey now I’m debt free because I did that decision and kept working.
So good for you keep on doing the great work and I’m sure you will make folks.
Thank you again for sharing with us 🇺🇸
Thank you for the kind words. A lot of people don't realize you can grow stronger in wisdom by making mistakes. Those who take chances win big sometimes, those who never take chances never win
A couple of questions you didn't answer:
1. Is this a typical week, a good week or a bad week?
2. How of that will you pay in taxes are t were those taken before the final $1600?
With the stupid cost of a pickup you could upgrade to a light duty tractor ih pete kw and get 10 times the miles out of it plus a sleeper.
This particular pickup we are upside down on so it won't be this high for others but if we were able to trade it in without taking an insane loss and get a tractor with a sleeper we would do that but unfortunately it's not in our cards so we'll have to make due with what we have.
-Cinnamon
Yes. If you have the resources or financing, get CDL, haul 10 cars. Start for someone else so they are paying maintenance and you gain experience (make mistakes) on their dime and insurance. Don't speed or you will lose it all.
Truck and Travel don't listen to that guy, everybody has an opinion and most people feel like they need to share it. You will not get any better fuel mileage buying a bigger vehicle. Why? Because you will haul bigger loads. I used to heavy haul for a living and I never owned a semi that got anywhere near 9 mpg empty. You might be upside down right now but that pickup will last a long time if you take care of it and eventually you'll have it paid off. Just keep grinding and you'll get there. Best of luck and God bless.
@@chrisroberts5614 Read what I said. Light duty tractor get 10 x the miles not fuel mileage. Like an International 4900 4 door single rear axle which is wide enough to convert to sleeper with hydraulic brakes (no cdl).I delivered thousands of these new trucks piggyback and with the right motor and gearing they would get 10 to 14 miles per gal loaded. So it's a bit more than an opinion.So Chris how many of these have you driven.18 years of piggybacking that's fact not opinion. The DT466 is one hell of a motor.
.
allen dabold I would say in your case experience isn't your biggest problem. Common sense obviously isn't your strong suit. I don't care if your truck doesn't have air brakes or not, in most states if your GVWR is over 7900 lbs and is a registered commercial vehicle then by FMCSA rules you are required to have a CDL. Also that "one hell of a motor" is a commercial application of the 7.3L that Ford put in their super duty pickups. If you can't get 14mpg in a pickup how will you get even close to that in a heavier vehicle?
health ins,401k,taxes,divided by 2 paycheck....
freedom without a boss.priceless!
enjoy life your way!!
I’m glad we have positive people like u guys delivering our goods👍🏼 thank u
Thank very much 😊
I've thought about it, but I'm home every night, work Monday through Friday, 10-13 hours a day and make 1400-1500. So I see the attraction of owning your own business, but not for all those expenses. Thanks for sharing your experience though, I'm glad your enjoying it.
I love seeing the financials... hope for continued success... safe travels and Roll Tide
Thank you Farmall4Life 350
Roll Tide
-Cinnamon and Darrick
Roll Tide y’all
Weagle weagle War Damn Eagle
Shreds1620 I remember middle school football 😂😂😂😂👀👀
@@ramboxlegacy14 when Zeke Elliott got 200+ yards on the Crimson Tide? Me too! That was middle school defense at it's finest. Thanks for reminding me!
Looks more promising than over the road 18 wheeler trucking .
I think we'd rather have a 18 wheeler
I prefer being a company driver. Less expense and less to worry about
Best of luck to both of you. Keep in keepin ' on.
Thank you
@@TruckandTravel Someday I'll earn how to type. :)
Cargo van no CDL no dot physical none of that bs and you can run all the miles you want and make more than these people
How...and with who?
How ???
Excellent video ma'am. Thanks to you and your husband. Best wishes for your business, hope you make a lot of money and have a decent family life too.
Thank you for the insight. The factoring costs are killers. The dispatcher seems expensive. Seems like that would be a good angle to work. Not sure how much time a week is involved in dispatching, but with a good computer program, it shouldn't take that long.
That's a lot of great information. Thank you 😊
I make that as a company driver at. .57cpm....
Not worth the hassle
my 2017 had 135,000 miles on it already and i could see the shit storm coming and i was smart enough to sell the truck and trailer. I had my own hot shot company for 2.5 years seen and did everything and fixed everything there was to fix and realized that isn't what I want to do the rest of my life. Go ahead and try it for a couple years and you'll see have fun. I don't regret ever doing it but wouldn't do it again
You guys had the best information on this subject everybody just talks around it thank you very helpful
That would be the hubby Darrick! If it was left up to me I'd be more detailed like regular wifeys are 😂😂🤷♀️
-Cinnamon
When I retire in 15 years this sounds fun
Nice way to travel and be out and about! 😊
-Cinnamon
Lost me at a 1500.00 a month truck payment on a pickup.
We are upside down on our truck. It's not going to be the same for everyone so don't let that discourage you. This is just our specific situation
-Cinnamon
Truck and Travel I don't know I just checked into a 2017 full sized ram had my credit ran with a 540 score my 99 f150 and 500.00 down my payment would run me right at 600.00 a month. No offense, but after seeing your payment. I'm going with the 330whatever a week times 4 weeks in a month plus what given fees they got to me and In my opinion I really think your getting took. Idk your credit situation or any of that. That just seems ungodly high for just a pickup payment alone. As I said I looked into a practically a brand new under 30k mile pickup loaded for more than half of that. I'm not here to bash on yall just hate seeing ppl get wacked.
YOU'RE not going to buy that kind of truck for $600 a month, hell just say 5 years at $600 that's under 40,000 without fiance charges.
@Jeremiah Fisher I think my credit is at 720 right now but you are looking at a f150...there's the first difference. I know you arne't here to bash and that you don't fully understand the scenario so I'll explain a few things. Our truck is a 72K truck. It is a work tool, the star of the show so it's going to be more expensive than a 99 f150. After than in consideration we HAD to trade in a truck we had before this and take over a 16K hit which made it a 90K truck...see where that $1446/month payment is coming into play? It has nothing to do with our credit. Both of us are over 700 for our scores ❤️ Hope this helps!
-Cinnamon
@@TruckandTravel my question is what stupid mistake did you make to get yourself in a 16k hole, you need to make sure you don't make that mistake again, that's the problem these days people don't learn how financing works and/or understand depreciation and they get burned, assuming you put 11k down on a 72k truck and are financing at 60 months from a loan amount of $90k you are at 1333 a month, if you would have put that 10k down on a 72k truck you would have been at $1033 a month, $333/$1333 = 32%, you are effectively paying 33% extra a month according to your truck payment and losing 8% of your income. Im probably around the same age as you guys and have went through 5 or 6 cars since I was driving and haven't had negative equity on a single lease or purchase. You guys do drive a lot of miles though, a lot of new business owners make mistakes but they learn quickly how to fix them, hope you guys fix your mistakes for the future.
Since I started my hot shot set up my health improve 10 fold
Their $1652 is pre tax. With self employment tax, the IRS will take a significant chunk of the net. I hope they have a good CPA!
You can log off duty. No need for "dot approved " sleeper.
Great content and information good luck you are doing it right!
Thanks for the transparency, if you enjoy what you're doing that's really great as well. Finding a way to get into a tractor you would very well as a team, something to keep in mind for the future.
We would absolutely LOVE to get into a tractor because since we don't have a sleeper DOT regulations has us running under 1 persons hours as the passenger has to be "on duty" when in the passenger seat 😞
-Cinnamon
Cinnamon, I'm sure you aren't let'n anyone here get u down. I know you did right for your situation. Me too. I bought a '99 50k mile ambulance F350. I write off my $0.52/mile Every yr., All miles. I do paper logs, Under CDL. I'll keep buying for cheap until my credit allows, but never a Semi EVER. Most HotShot O/O's will be under CDL weight & our engines aren't $20k+. Keep your heads up, maintain that truck & I'll see you 2 & buy you lunch someday. You're living the Dream.
I almost bought a Hotshot truck and trailer last year but couldn't justify it.
I found out I can drive for someone else and make $1200-$1600 a week and not worry about maintenance, insurance, truck payment etc.
Driving 10k miles a month average in 2.5 years the truck will have around 300k miles
@@mbekka1 where I live they pay 25-30 percent of gross
Most of them require 2 years experience for insurance purposes
@@mbekka1 plenty
@@mbekka1 Go get that cdl, apply to the oilfield. You won't only make more than that, you will be home WAY more! Driving pays ok... But when you have the credentials to drive and provide a service is where the 6 figures come in. I've been in the oilfield since 2002, trust me. And if the oilfield goes to hell, you always have that cdl to fall back on.
@@mbekka1 after 2yrs of experience you can get that. Out the gate as a new driver it's more like $800++
Shane Creager yep and these trucks arent built like a semi, 3-5 years tops and its toast. You’ll get maybe one rebuild out of a pickup truck. As far as the pay thats terrible, 2 people combined for only $1600? Thats not worth it. My grandpa drove truck for the teamsters back in the day and cant believe how little people are working for now. Its truly a race to the bottom.
And I thought my monthly payment for a 2019 f350 dually LARIAT of $600/CND month was too much...
Thanks for keeping it real. That's what I use to make . I'm not trucking anymore. It didn't work out for me. Looks like is working for you guys. Keep working and God bless you guys. Thanks for the video.
Great video! Thank you!
edit: Just want to add that you handled comments below with a whole lot of grace and I appreciate your honesty about past mistakes, etc. Y'all are probably harder on yourself about that than anyone else could ever be, but you seem to have great attitudes and your willingness to put it out there so others can learn is commendable.
Keep your heads up and please keep making vids -- I'm a new subscriber who has been fantasizing about hotshotting for some time and the info you are providing is a big help. I think it's the sincerity that makes the biggest impact, so THANKS AGAIN!
Good luck to you both and stay safe!
What about the weekly cost of wear and tear on the truck and trailer? I'm curious on how long a truck will last pulling loads everywhere and how quickly it depreiates?
Hi Cinnamon & Darrick,safe travels.
Hey Eldon! How are you? It's always nice to see you in the comments! Hope the rest of your weekend is great!
-Cinnamon and Darrick
@@TruckandTravel Doin ok here,just taking it day by day,still going through my late wife's things,Horizon Transport is on hold for now til i can get through this diffucult time of need,hope you both are doin well,be safe out there.
Well you are in our prayers. Keep us updated on how things are going for you bud
@@TruckandTravel Tyvm,i really appreciate it,will keep you both informed on whats going on.
Oh brother! I will definitely pass on that job. This is way too low for the amount of work and hassle you have to go through. I did over the road trucking for 4 years and I was making around 8000 dollars a month driving alone. but best thing you can do is go to school and get a degree because I found that is the best way of making good money and living a comfortable life.
lol!
Finally a video that show what you can make and spend all the others just run around the bush. Thank you cinnamon
So about $40/.hr for the both of you, so $20/ hr each. Combined $80k a year. A lot better than working at wall mart. If your on the road a lot, then why have a house payment, utilities, and all of that. Might be a good way to bank up some money.
Yes definitely better than a minimum wage job. 😊 We just started doing this together in July. If we were to sell our home it would take time to do that plus being able to go through all we have, sell all our stuff off etc. and most importantly, we do not have a sleeper in our truck so we would be completely homeless and living out of hotels which would be so expensive. Our house payment is less than getting hotels on the weekends that we are not working.
-Cinnamon
So give or take $800/week each before taxes - that's about $40k/year each. Also in your calculations, you did not include depreciation or maintenance on the truck. No 401k matching, health insurance, PTO, etc.. I get the 'be your own boss' thing but I have to say being a CDL driver for a company is probably the better way to go. Perhaps I'm missing something?
nope , you're right
Not saying you are right or wrong. But CDL driving is, much... much more difficult.
YEAH IF YOU DON'T MIND SLAVING FOR SOMEONE AND YOU'LL NEVER OWN NO PART OF THE COMPANY OR BE ABLE TO GROW YOUR BUSINESS?
I make more than $40k a year and I work on trucks for a living...... That F350 isn't going to last very long either trying to haul 48' and 53' trailers. Not to mention getting always stopped by DOT to check their weight.
You are right you can team in a company truck. they would take home about 2400 a week, and the other person who said that it is harder,,nope it is not ,,they dont have to worrie about break down or flats
The truck itself can make you or break you whether is an 18 wheeler or a 1 tone pick truck.
The key to success is a brand new truck and a good hard working attitude.
Antonio, the 18 wheeler
I’d take 1652 a week, all day! And that’s for 2 people. Cool video. You might have just helped me pick a career.
Most of the people who are talking negative have no clue what it takes to be a trucker. It’s a lifestyle, I’ve only been doing it for 6 months and I understand what it takes. I’m looking to get into hotshotting leasing onto Landstar next year after my next six months of trucking. As a driver I’m only making about 900 a week and that’a surface expedite with Fedex custom critical. Every time I drive I’m pulling 600 miles, sometimes even more. They are barely driving making $1200 a week. In a week loaded every day I do 3000 miles alone. As a team it’s double that with 6000 miles total for the truck. They are a team and barely hitting that 3000 mark. Understand that this business is paid per miles. You’re not gonna make any money unless you’re willing to drive. What they are making is on the low end compared to what some of these guys pull on. The money is there to be made. Ill be pulling double under Landstar. I’ll be starting my corporation January and buying my truck in June. Keep on trucking guys and ignore the haters who don’t know what it’s like.
Lol @ trucking!
JGBLADES I meant it in the expressive not the literal lol
Doesn't sound like you're hotshotting. They make more than most truckers
@@robertsmith5095 Me....im good ;). 1,500$ a day. Almost no expenses. You will never guess.
@@jgbelmont If I guess right the first try what do I get?
Should of bought a cummins, better mpg, more reliable, less $$$ and better towing capacity
What???
First off you lose a lot when you buy a Cummins: 2 cylinders, quality, towing capacity, payload, and so on FIAT can not make a truck!
Keep it up. Enjoy the nice truck. You are looking at business correctly and seem to know where you could do better in the future. Business is all about walking the walk and learning along the way. Good job you two!
You listed your hotel as food :) I like what you're doing. Although $1600 for two people for a week isn't a great earning, it definitely is enough - if you're doing what you love doing.
Theyll do the same driving for uber
You should check with an accountant, but I believe you can pay yourselves like $55 a day tax free as a per diem. It might even be $55 each. It might work out better than using your actual expenses for food and lodgings at the end of the year when you do your taxes. I think you can only deduct a portion of the actual food expenses and you'll need receipts. Just something to look into that might save you some money & hassles.
Per diem has been removed in the new tax plan.
@@xNialx yep, thank the president for that.
@@xNialx I dind't know that. Trump is always helping the little guy. SMH
@@Barneyrubble241 Not sure if sarcasm, or plain stupid >.>
@@xNialx 10000000000% SARCASM!!!! I was hoping the SMH at the end would give it away.
Man.. That truck note and trailer... Damn... My truck note works out to under 200 a week and for those that don't know, my truck is a 2018 F350 Drw. I would flip out if I had a 300 plus one... But hey... It is what it is and you do the best you can with what you have to work with.. Just keep grinding!!
Thanks Sgt. We appreciate all your support and all your funny comments
-Cinnamon and Darrick
I imagine these trucks are basically scrapped after 4-5 years, so that's about as long of a loan note you'd probably want, instead of like a 6-8 year loan. If you're running 3-4 year notes, that really makes your payments higher. If you had a 50,000 dollar truck, with a 3 year note, you're talking $347 a week with 0% interest, lol.
With cdl and 1200 truck payment why not run a truck with a sleeper
@dedalliance1 we plan on keeping this truck way past that. If the engine goes out we'll put another in. If the transmission goes bad, we'll replace that, etc.
@race fan we would LOVE to have a sleeper but again that costs money that we do not have yet
-Cinnamon
@@TruckandTravel Hopefully that plan works out well.
I'm totally new to the trucking business but as I watch more and more videos here I discover something new. Never knew what hotshot hauling was until now.
The video was great u guys well detailed and u seem very sweet with a great personality. I'm sure ur man behind the camera is as nice as u are. Keep up the great work and keep on posting videos that help people like us learn something new. I hope u folks never change and u stay consistent with that good positive energy on these videos.
I'll be joining ur channel this instant!
Thanks again,
Ed.
Thank you very much Ed G! We appreciate it! 😊
-Cinnamon
Not the kind of "net" I was thinking. Maybe you can stuff envelopes while the other drives? $1600 a week between 2 people isn't all that much I'd say. The freedom of having your own day and schedule is great, but it's a lot of hussle to make that money. You'd be better off hiring multiple people and earning a small amount from each of them and just dispatch and be home every night.
I thought they would've made more.And no benefits ! Guess it's a good start. And good to be young.
I make that being a company driver with none of the head ache
That's awesome Joel!
-Cinnamon
@Melanins Cool you know not what I know
@@joelwilson8758
We know you are 35 and live in your mom's basement and unemployed
RAM TRUCKS if u say so it's ok with me
Melanins Cool yeah but there's more companies out there than swift. My dad clears 2k a week gross. I've seen the stubs and if u could post pics I'd do so.
$0.68 isn't a lot money plus maintenance, depreciation, tax, 401k etc. To keep you in business you must clear at least $1 per mile after everything.
This was the shortest most informative video I’ve seen. Thank you for sharing!
Thank you. Hot shotting is a tuff game
Didn't hear health insurance or putting aside for other benefits that would sometimes be offered. My GF and I team. Out 5 days home 2. Net avg $1,100 ea after all insurances. Plus monthly mileage bonus and quarterly fuel bonus on top of this. So avg per week about $1,300 ea per week and can walk away whenever we choose. I was self employed for over 10 years. I'll stick with my deal. Works for me.
$1300 a week after everything is actually really good. That's equal to about 80k salary. This video didn't deduct tax's, so they're probably making about $13 an hour by the end of the year (not including the business tax benefits), not terrible if you hate working for others but not amazing by any means.
You can’t just sleep in the truck ?
It has to be approved?
Too many rules.
No..that is not correct
I would sleep in the truck so I wouldn’t waste money on a hotel lol
$1600 for 2 drivers? I make $1500 a week driving sombody else's end dump.
I hate dolphins that’s what I said !!! Plus the wear and tear of your own vehicle
Idk man. If it were my "team" I'd leave my "teammate" at home to work at a gas station so we could afford to eat while I was on the road.
@@splatterbrain3788 lmao!
Hey Cinnamon don't let the haters get you down. You learn as you go. That's called Life. I've started and sold 4 businesses. No I didn't get rich. I made a little each sale. Just bought 318 acres two years ago. Decent not fancy equipment. Paid for. Just bought 72 adjoining acres. Clear cut all the tillable land. Hope to have it paid for in 4-5 years. I'm getting by and tickled pink doing what I love. Keep the videos coming. Great job.
That’s actually very generous. Most transporters I know don’t have it that well. I’d say you’re doing pretty well.
Thank you thats nice.
You can sleep in the backseat if you were running solo, wouldn't have to be a DOT approved sleeper.
Can't do it running teams in hotshot tho
Yes having 2 of us is the dilemma we have to figure out
-Cinnamon
Back seat has to be converted to approved DOT sleeper, requiers hacking out the doors and 42 wide mattress. You can't just sleep on the stock seat single or team.
@@tumbleweedking5668 not true that law changed in 2013, long as you log off duty you can sleep in the backseat. I had a level 1 inspection 2 years ago and specifically asked the DOT officer this question to make sure
That's a woman and not a man.
@@TruckandTravel can you just log off duty and your husband log on when you want to take turns sleeping in the back seat?
Do you have a start up video . Step by step because I want to get into this .
Check out Josh D or Tow Piglet on youtube. I think they do. We would rather driver a semi
Wow... I make about $300-$350 a day as a company tanker driver n sleep in my own bed each day
What state? I met a guy says $150k a year in Chicago. But I looked up salaries and it said $50-60k.
Dang your truck will be paid off in no time with that bill! But that's awesome you are your own boss. That's gold right there! Pretty soon you'll have a fleet👍
You can run as a team truck you just can't log sleeper berth you have to go off duty in stead. I have been in the Trucking industry for 21 years now so I am almost sure that you can do that. Cause after all of your cost you are making about what a company driver makes. But keep up the good work
Thank you Thomas! We went through the rule book because we were hearing from a bunch of different people what the rules were and we wanted to play it safe. Since we are a team, you have to have 10 off duty like normal but 2 of your hours can be counted while you are in the passenger seat and the other 8 have to be either off duty out of the truck or in a sleeper berth. Since we don't have a DOT approved sleeper, we make sure we have 8 hours between the one driver starting after the other one has stopped for the night. At least that is how we understood what we read. We could always be wrong
-Cinnamon😬
@@TruckandTravel to split your sleeper time you have to do 2 hours off duty and then 8 hours in a legal sleeper but being you don't have one you can not split your sleeper time l might be wrong but that is the way I have been doing it for a few years now but I drive a tractor trailer.
We don't log sleeper ever because we do not have a sleeper. We log off duty
carry a tent and say you go to that for sleeper and don't give an inch or they will get you, but if you hold firm, you're good
what about federal, state, social security and unemployment insurance withholdings ?
just figure it out urself lol. not that difficult. just do it for your state... but rough estimate i usualy use 30-35% they are not getting rich sure. but at the same time they get to travel, etc. and be payed for it.
Depending on your state, if you plan to pay yourself 35k a year look to pay roughly 25% of that in taxes.
If / when this channel takes off (which I am sure it will seeing as this is a very niche market) you guys will be living off youtube revenue and pocketing all your transport income, great video and keep up the good work, you got my like, subscribe, and bell notification!
Much prosperity to you! Big Appreciations for sharing and teaching and not trying to sell the knowledge... That's what it's about..... That's how you attract wealth....
Then taxes.. no way. Not worth it
There are a lot of deductions you can take at the end of the year.
-Cinnamon
I work as a courier and according to the IRS I made a net loss of -$3k last year because I could deduct a ton of mileage. I end up not having to pay any taxes but that's not really a good thing in the long run. Just means I'm making too little money to live on and have nothing paid into social security year after year.
Truck and Travel Short term yes. Long term, you’re not going to be able to show a loss. Audit galore
Yea gross dont mean shit alot of owner operators gross 3x what company drivers gross but end up netting around the same amout, and payig for hotels fuel taxes other expenses maintenance rapairs i dont think its worth it unless you started out with like 100k.capital after truck and trailer to each their own ill stay company take my 85k and invest in other things
Mucleboy01 The plus side is working for yourself, and you can get creative with taxes for a few years. The endless write offs are a short term solution though. Depending on loan rates for the truck, that would be a make or break. No clue what commercial vehicles loan at these days
What about maintenence like tires, oil changes, brakes, balancing and taxes. So basically yal make $800/week without including maintenance and taxes drive around 1200/each.
That's what I was thinking, maybe they already took out those costs?
dedalliance1 it didn't say in the video that's why I was asking.
@@giovanitorres9360 Same, I was also asking.
What company r u leased on to
Hey guys! So we weren't able to do it for a few weeks but we are going to be breaking down our costs per week in a video. I didn't say it in this video but I'll make sure I mention it on the next that whatever $ is left over we use to pay the rest of our bills. Whatever is left over after that, we set all of it aside for maintenance and taxes. We just started driving together (Darrick transported for a year before I joined him ) this past July so we are not sure what the tax scenario will look like. We are currently getting new tires for the truck so stay tuned! This video was for October 21-October 27th. This coming Saturday will be fore October 28th-November 4th since when we filmed this it was Saturday, we were on the way back from a job so we didn't have the total miles yet. I hope this answer helps!
-Cinnamon
Not here to knock your hustle but I was making that driving hotshot for someone before I got back into tractor trailer. Hauling 40ft shipping containers.
Keep on trucking y'all!
No you didn't....stop lying. Containers pay crap! And kill your fuel. So stop
Wow... I'm making more than that just as a local driver you can keep all that headache
Bet you severely lack the freedom though
In my opinion not worth it to drivers at $1,600 a week divide that by 2 that's that's $800 plus you still have to pay your taxes next you have to pay your health insurance
I'm going it'll pay off once the trucks and other small items are paid off
As always too many regulations and crooked hands taking your hard earned income.
Yikes! Sounds like a lot of work for very little! I gross over 2k and I'm home every night, don't have any vehicle payment and my work pays for my phone.... nice info though! Now I know I'm on the right track!
Where you work at? I need that job. I have a class b CDL drove a school bus 15 years. Now I work at a gas station it sucks!
Keep up the good work you guys I'm extremely proud perfect team....
Thanks for your update and send me a picture of the woods Yes sounds good to me
Too many expenses and driving. Im out. Good realistic video though.
With all these expenses what's the point of being in business LoL 😅 same as company pay
THE POINT IS THAT IT IS YOURS!!! PERIOD!!! THINK ABOUT THAT!!!
@@jamesperry2052 no that's not a good point AT ALL LOL 😂 the point is to be self-employed for the betterment of your control and finances not to take on expenses and not make money or make the same money as you did as a company driver
I enjoyed your video Cinnamon and Darreck. I just subscribed, looking forward to seeing more of you guys. Be safe and be blessed!
Thank you. God Bless you!
Cinnamon and Derick, y’all are doing what i dream of! Good info, Keep on Trucking!! Be safe.....see you somewhere down the road👍🏻
Deduct all your expenses,and you end up with like 1k a week?
Luca Borgetti in business you can claim milage .write off miles.
There are a LOT of writeoffs we will be doing during tax season. We'll let you guys know how it goes!
-Cinnamon
Not true, after taxes and other truck wear/tear/depreciation/maintenance costs, etc. they might end up with $600.
What write offs lol you can only do so much write offs that involves buisness only. Ur cars home stuff dont count. Stop hauling cheap freight! With .65cpm drivers averaging more then you own ur equipment lol back to the drawing board
Good money, I would say why not get your CDL’s and do semi truck team driving you could make double what you’re making right now without any of your costs!
@Melanins Cool well you can never have enough it's all relative but yes I feel it's good money as it's above average for most Americans
I thought she said they do have their CDL's which allows them to take loads over 26,001 lbs. Unless i miss understood her.
We do have our CDLs with restrictions but we are thinking about getting a regular CDL and getting into a semi but we aren't sure
-Darrick
'bout 3 decades back, started with a 1-ton and a 48' mini-float, eventually moved up to a FLD 120 with a 48" sleeper. eventually stepped up to a small handful of them. 'bout a decade or so ago, sold the company. got outta trucking completely. gotta say, that 1-ton and mini-float is the only one i miss. ya'll have fun while it's still there to be had folks.
That's what I make weekly as an otr driver. and I also have benefits insurance and retirement plan. So if they have to pay for their health insurance and a IRA, what are they left with. And they still have to split up the $1600 plus. Definitely not worth it. Forgot to mention breakdowns
After we take care of all of our bills we put anything left over towards taxes and maintenance. We are currently only able to run the same amount of Hours as 1 person. DOT requires anyone sitting as a passenger to be "on duty" since we do not have a sleeper. Once we can get this problem fixed we will be able to run our potential for hours and miles which will help with income
-Cinnamon
FORGOT TO MENTION FREEDOM!!!!!!!!!!!!!!!