Considering RV hauling; need some advice
Didn't know which forum to post this in, and seemed as good as any. Asking for advice, not the validity of what I'm attempting, as I know pretty well what I'm in for. I have a ton of recreational h...
Forum Discussion
First let me give you a bit of my background to put into context what I am going to tell you;
I grew up in the family trucking business (Moving and storage) While I didnt want anything to do with this business as I got older, later in life I found myself owning my own trucks and running them as a sideline to my regular career.
This job is NOT about "Living the Dream" as their ads say...it's Work. Period.
I wouldnt worry about the Commercial Carrier/DOT stuff if I were you. The company you lease to will take care of making sure you are all set there. It is their DOT number you will run under.
As for Logs they will undoubtedly give you a course, they are not difficult. And there are many good apps that will keep them for you.
This is a business and it helps to have experience in running a business but you will learn as you go. This is especially true at tax time. There are many good Trucking centered Bookeepers/Accountants and Tax professionals all around the country. Use them to begin with and LEARN from them.
Your normal Auto insurance will NOT cover you for this. However the company you lease with will have insurance that you can get from them. Be sure you get a copy of the ACTUAL policy from them, not an abstract.
Tax wise it would be better to have a new truck you could start depreciating as an asset. And this is very important. GET A TAX ID NUMBER AND MAKE REGULAR QUARTERLY PAYMENT TO THE ACCOUNT. This is where so many go off the rails and get themselves in trouble. AND PAY INTO SOCIAL SECURITY!
After all of that read your contract line by line ask questions and talk to a few of the drivers who work for the same company...even if you get into it and don't like it every contract has at least a 30 day escape clause (and most likely an immediate one) and you can get out.
So try it and see what happens. You can make money but it is work.
I grew up in the family trucking business (Moving and storage) While I didnt want anything to do with this business as I got older, later in life I found myself owning my own trucks and running them as a sideline to my regular career.
This job is NOT about "Living the Dream" as their ads say...it's Work. Period.
I wouldnt worry about the Commercial Carrier/DOT stuff if I were you. The company you lease to will take care of making sure you are all set there. It is their DOT number you will run under.
As for Logs they will undoubtedly give you a course, they are not difficult. And there are many good apps that will keep them for you.
This is a business and it helps to have experience in running a business but you will learn as you go. This is especially true at tax time. There are many good Trucking centered Bookeepers/Accountants and Tax professionals all around the country. Use them to begin with and LEARN from them.
Your normal Auto insurance will NOT cover you for this. However the company you lease with will have insurance that you can get from them. Be sure you get a copy of the ACTUAL policy from them, not an abstract.
Tax wise it would be better to have a new truck you could start depreciating as an asset. And this is very important. GET A TAX ID NUMBER AND MAKE REGULAR QUARTERLY PAYMENT TO THE ACCOUNT. This is where so many go off the rails and get themselves in trouble. AND PAY INTO SOCIAL SECURITY!
After all of that read your contract line by line ask questions and talk to a few of the drivers who work for the same company...even if you get into it and don't like it every contract has at least a 30 day escape clause (and most likely an immediate one) and you can get out.
So try it and see what happens. You can make money but it is work.
