How Much Can You Make When You Hire A Truck Driver? Payroll Lesson, Real Numbers
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- Опубликовано: 22 май 2024
- Truck drivers are the backbone of any trucking company, but how much will you earn if you are driving your own truck vs hiring a driver to run it for you?
My email: talkabouttrucking@gmail.com.
Dispatch Course: miranda-c-s-school.teachable....
Website: www.truckingmadesuccessful.com
I'm constantly blown away by what you accomplish in a day. Running a demanding business full time, making these in depth educational videos, and all the normal day to day life responsibilities and tasks. I'm sure that's just the half of it.
Thank you again for your RUclips channel. It really helps!
🙏🏼💫
it's easier to work/run a trucking company from the office/home vs actually driving all day every day. I'll rather work from the office than drive any day. yall agree??
While I dont have a CDL, I agree with this. Being on the road all day every day is physically and mentally taxing, much more so than an office job
@@TruckingMadeSuccessful what do most drivers/owners do for office space...use their home or rent an office w a staff person/dispatcher?? avg time they are on the road??
Agree 100%, puts me to shame!
Awesome breakdown!
Excellent video Miranda.
Thanks for that breakdown. 👍🏾👍🏾
I was pondering this exact question. And u just answered it for me.
I've been refreshing youtube all weekend waiting on this video. Thank you so much for this information.
Miranda rocks!!! Ty. !!!
I got it. Really good at explaining complicated things. Perfect. Thanks.
Love 💕 the wireless earbuds
Revealed inside out of Trucking industry. Good informative video 👍
Better explanation than most accountants 👍🙌
Very helpfull video.Thank you.
Thank you for all the valuable free knowledge you share with us. I watch this channel like Netflix. You’re beyond informative and helpful, plus I realized that when I’m learning from a good looking woman, I’m able learn better 🥂
LOVE your videos!
I’m registering my trucking business this month. I’m also located in california (SoCal); Would love to connect and hear more about your story and network! I feel like i need to surround myself around more people in industry!
Thank you so much
Thank you 🙏 for a true analysis and reality check on trucking!!! I agree it’s definitely not a get rich scheme or hands off type of investment trucking.
P.S the hair looks like it was having a good day.
Keep up the great work
Nice! As usual) Thanks!
Ok...you are awesome!!
Thanks very much Ma'am😁👍
Yeppers, it's a lot of headaches. Not to mention if you hire a driver and runs your equipment or truck into the ground also!
I'm hooked on these video's
Im obsessed with numbers, can you tell? haha
great video, thank you only thing I think you left out was the expense of your trucks including break downs, fuel and insurance so you your profit will be much less as well Thank you for the insight as I was looking to help a friend that has 3 trucks to run but the brooker fees are killing him and too much down time waiting for loads
Great, thanks
Great video! Love the breakdown. What do you think are the advantages of hiring drivers vs leasing on owner operators to your company?
Great video.. it’s all about the driver you hire … you have a good driver you going to make money but you have a bad driver no money…
I average 900 to 1300 week on one driver .. I’ll pay 29% of gross of the truck ..
Solid video 👍👍
with the way rates are going, it won't be long before they are back to 40cents. . you can't pay 60-70 a mile when freight is 1.50
I saw many ambitious ppl wanna hire drivers and have few trucks etc. The key is to find a driver who will take care of the equipment instead of destroying parts of it every trip. Until ur truck turns into scratched up, dinged up, crooked up bumper and panels etc. If a driver neat and takes care the inside of the truck he most likely do the same on the outside as well
100 percent
Good morning do you help out with Brokers
Good morning do you broke her loads
I need help finding loads for my cargo van
How can contact you please?
You are right, there is nothing passive in trucking from the moment you buy your very first truck. I am a pretty new owner operator, just 9 months in and There is always something going on and a lot to learn. I get home and there are still things to do, maintenance, organizing all the bill of lading a and receipts, clean the truck, get it ready to go on the road again. there is nothing passive.
you need a dispatcher and drivers thats how you make it passive
and always start off with box trucks first
It was nice having an extra day off. We haul fuel. The boss was freaking out this morning, as the bulk plant is running low on fuel because of everyone being off Monday. 🤷♂️ can’t win
LOL, just roll with the punches! But yes, on one hand it was awesome not to be bombarded by calls on a Monday. On the other hand...nothing gets done haha
This is the only video of you where I have a lot of questions🤔 you left out fuel, insurance, tolls, ect... and is the money cut in half when you are making $2 per mile and paying .50 per mile. That's not adding up. However, I love your insight!!
So, is there one driver for each equipment type? If so you guys are running pretty good!
nice
Hi ma'am, what do you think about leasing trucks with ryder/penske. No worries about maintenance, no down payment, new equipment, and if truck breaks down, they will put your driver in another truck asap.
Great video, thank you for it! One question, I have heard you mention quickbooks before, do you use quickbooks for your payroll services as well or an additonal party? Again, thank you for all the education!
I use ADP for payroll and Quickbooks for accounting
Hi, curious if these monthly margins that include payroll are relatively representative of what you've seen over long time horizons (to capture large and more unusual expenses - mostly related to expensive repairs)?
Right now everything goes to fuel and driver , it supposed to be 33% for each
50 a mile is pretty cheap
you forgot to mention insurance!
I'm thinking of buying a truck and leasing to a company, how much would i earn as a truck owner? I was told 4k a month net and someone else told me that is not acceptable you should be getting 10k a month? Driver would bring in around 35k a month gross ?
The owner/operator will have to PAY himself that .50 to .65 cent per mile. ex. his monthly net income = $14K and he has to pay a driver about half that ($7K) or pay himself about 80% of that 14K = $11K per month and save the other 20% for the company's future/expansion.
Right on!
Thank you for the great contents. Are these miles (14k) solo or team drivers?
solo
This is very informative. I have a trucking company in Los Angeles that I drive for but I am having difficulty with growing. Do you do consulting?
I do not do consulting at this time
The per mile driver rate is that loaded miles or total?
Great video! How much do you suggest a trucking business puts to the side for expansion or investment??
Great question but I am a horrid person to ask because if it were up to me, I would be putting away 70-80% 😂 I wear suspenders with a belt. Would love to see what others think!
i especially like the part where you tell everyone to go to the beach
Wait where did I say that?
@@TruckingMadeSuccessful in the song you like to sing. i can have a bad day then listen to it then everything is ok
What if you hire driver as a an independent contractor? (ala Uber) Is that even a possibility?
So do you think paying 1099 much better than payroll?
Hello! I may have missed this if it was mentioned - what about insurance expenses?
That was in the video before this one :)
I'm curious. I didn't see you include expenses like fuel, insurance or maintenance in your monthly take home
This is just a lesson on payroll.
Are you getting the workman comps from ADP? Or other provider? Im in CA.
ADP
On the owner operators.....why can't you just 1099 them and let them be responsible for their own taxes? And, if you did 1099 them would you still be responsible for W/Comp on that employee? Just asking questions.....love the program and THANK YOU👍
1099 is illegal according to the IRS regulations. That’s what brought the AB5 legislation to California
1099 is only for owner operators with their own equipment. Unfortunately, 1099 does not have a place in CA due to AB5 law. But yes, if you are leasing on owner operators, you can do 1099 and then would not be responsible for workers comp.
It’s against the law to 1099 a company driver. Mom and pop companies try that but it’s illegal
4:52 what if there are no state taxes . Will driver takeaway whole amount $7,322 ?
No there are still federal taxes, Medicare and ssn
What is the name of the Payroll Company that you use, Thanks Johnnie
ADP
"Paying him"??? In 2022? But I'm still listening...
Trucking is dominated by men in 2022 live with it
@@theseason3301 Unfortunately, women only give birth to persons like yourself. Live with that...
This is based on a company driver right a w-2 employee??
Yes :)
One question if you could verify for me. Wanted to ask if my driver lives in Texas but my company is based in NE would ADP automatically not take state taxes because the driver lives in Texas or is it something that I will have to tell them?
That is something you need to tell them as they will assume that the employee works at your place off business, but an interstate driver actually works everywhere and therefore taxed in his or her base state
@@TruckingMadeSuccessful Thank you so much for breaking that down for me. Your'e awesome!
If I could only drive 10 trucks myself all at the same time. 🤔
Wow everything sounds great on your board money wise 👏 until the Driver call with a Break down on the road ,,, now you have a problem calling the service truck out and now you can say goodbye to all your profit ..... Everything sounds great on the paper 🤣🤣🤣🤣
Is that $62 per employee per week for payroll
62 per month or 15 something per week per employee
🥰🥰🥰🥰🥰🥰🥰
So are you saying no one can hire drivers when there are thousands of companies with fleets?
As I said in the video, a driver is the single most important player of a trucking company. This video is to show the reality of numbers as many people think they will open a trucking company, hire a driver, delegate all work to third party providers and make a passive income. Doesn't work that way.
@@TruckingMadeSuccessful I have been driving for 30 years and have been with a postal contractor and believe they make money. Each truck brings in $100 per hour and there are like 20 trucks. Roughly 5 grand a week per unit if they have routes. I can go get a truck myself, but I don't want to driver anymore. I do have the opportunity to work with a broker and also do dispatch service on top of that.
Why to hire drivers with w-2 employer-employee relationship ? 1099 suits this business perfectly
AB5 law in Cali + many employees are misclassified as ICs
Why are you still in California come to TX !!
S corp is good not C corp .. what you think??
S Corp is better. With C corp comes double taxation!
Yep ..
Hie im samuel i want to start trucking company can you help me with loads please im st paul mn
Unfortunately I am not doing dispatching of other carriers- just my own fleet at the moment!
Who drives less than 65 cents per mile now ? Probably one who drives 2000 miles weekly and he is happy with achievements:)
What payroll company do u use?
ADP
@@TruckingMadeSuccessful thanks
Ty to musisz być Polką.
Is it easy to hire drivers these days though? Not many are willing to go across the country on a weekly basis. They rather stay closer to home, at least that's what I've experienced when hiring.
Its definitely not easy to find drivers :(
if you pay your drivers a flat rate and add a safety bonus every month for being safe on the road then that net income will increase..every company makes diffrent money. just have to structure the right way
If you making 30k a momth off three trucks how much more do you need that rich enough 😂
Ah thats an excellent question. But the bigger question is, is that profit lining our pockets or getting reinvested into the growth of the business?
You have to reinvest back! in case of an accident, one of the trucks is stuck in a shop, larger mechanical fixes, buy more equipment etc.
A “professional and knowledgeable” driver is not going to work for $.50 a mile either.
Youre not finding a quality driver at 50 cents. 14k miles is unbelievable. I call bullshit.
Please keep in mind that the 14K miles is a real mileage from my company- that includes the last load which picked up at the end of the month and delivered in the beginning of the next month. And in terms of the 50 cpm driver, please show me where I encouraged that rpm in the video. I am here to provide facts, not to personally advise unless asked to do so.
Hawwwtieee 🥵🥵🥵🥵
Aw thank you! 😊
Is not even funny anymore to be CEO 🤦♂️
pay per mile is unethical
Would love to hear why you think so
@@TruckingMadeSuccessful A worker should be compensated for his time, with 1.5X rate after 8 hour shift. Anything else is business imposing their risk onto labor. Anyone smart would decline.
Your workman comp is too low
How do you figure?
@@TruckingMadeSuccessful coz I was paying %15 on total payroll last year. That’s the only reason why I had to sell my trucks and let go drivers. And started myself again. AB5 is difficult 😥
@@MuhammadAli-bp6iq Workmans comp will depend on where your driver is based. If he/she is in Cali, yeah, it will be an arm and a leg :(
@@TruckingMadeSuccessful thanks 🙏🏽