You could be a professor at an IVY school. You’re absolutely intelligent.

Thank you so much for your delivery. Straight forward and very informative. Not a second wasted

Your handwriting is PERFECT. Thank you for making all of this comprehensive. Nobody explained any of this to me when I leased.

Ma’am you are INCREDIBLE! The info you put out, and the way you explain it is PRICELESS!! Please continue to your thing, it helps so many people. THANK YOU!!!

WOW... You are awesome. Thank you so much for all your information and sharing your knowledge. I was kinda confused on how to go about this and you made it so clear.

That was awesome, clear and concise exactly what I needed. Thank you so much for the encouragement!

Get your own authority. They take out more than 25%. They take out of your income for many of those expenses. If you learn how to accrue for monthly expenses, breakeven analysis breakdowns etc you can run your business. Great information

You r' great ... One of the best channel ..whatever info need related trucking we get here...

Very informative, thank you for your dedication. Just a small adjustment- IFTA can be issued without your own MC & DOT, as long as you have an IRP account. Thank you for your videos. Very helpful information.

Wow - great, detailed and clear explanation. Thanks!

Great stuff! Getting my own authority this year!

I watched 3 videos… in order basically… was already set on shipping or trucking. But now I’m positive… with my own authority. Basically… you got have a good calendar. Good at keeping track of stuff. And constantly brushing up on your duties as a owner with authority

Hello and thank you for making such great video was very well explianed but I think it's a little more responsibility to get own authority but better chance of success because you make all the rules set your company up as you wish as long as everything is up to date and DOT compliance. They have lease on companies that knows you make money so they will keep you in a work stage to keep you making them money. Although you are a lease on O/O you are still an asset for the company. I mean you should be able to have flexibility but believe or not there are some companies that except you to run your own truck as a company driver basically. They will lie and say NO FORCE DISPATCH but, as soon as you don't run the load they want they will make you suffer and wait. It's can be BS to lease on when you really only losing about 30 percent so I think it's definitely worth getting your own authority. It will be a lil rough in the beginning but once you cross that 3 to 6 months of operation you gonna better. There are also some companies that let the owner operator book own loads and sets you as someone with ya own authority without having ya own authority. To me that's ok but still not worth it because you are still getting hit for that 65-85 percent fee... And really when you do the math you will see that u wind up paying more leasing on because some companies are smart they know these trucks make money so they going to take money from you so I think it's best for ya OWN AUTHORITY..... 👍🏾👍🏾✊🏾🙏🏾🙏🏾

Again, awesome content. Thanks!

Finally a video that explains everything clearly

Greta video , glad I found your channel , at least you talk about numbers so people can understand the business , thank you .

This here useful and I sent to many clients thanks again for sharing this

After this video, I want to work for you😂 this is a great find for me. Thanks for taking the time.

Incredible info and easy on the eye. 👍👍

You are a GEM! You just answered so many of my questions. I recently retired out of 29 years of service. and made the decision to buy me truck. I have driven for companies for six years, and drove almost anything and everything Uncle Sam has. However; this new adventure was already driving me a little nuts, because every time I turned around, someone was reaching their hands in my pockets for this tax and that regulation and so on. I love the way you explain things, and I am looking forward to checking out all your videos. Thanks so much.

@daMillenialTrucker

11 ай бұрын

*sticks hands into gilbets pockets and snatches a $20*

Thanks for the information, that's exactly what I was looking for 😊

Thanks.. the información in this video is very useful for me.. keep the good job

Excellent Video, thank you so much !!!!!!!!!!!!!

YOU ARE THE BEST!!!!! From now on, I go to you first. So refreshing to have it explained in "business language" with accurate line-item responsibilities as a comparison. One thing, however, that you did not discuss, and I was wondering if you had a "next level" video with tax, equipment ownership depreciation amortization vs. lease write-off deductions as it relates to the income side, IRS, etc. Prior experience: leases were 100% deductible and equipment purchases went under a depreciation schedule. That will have an impact on the $26k vs $20k figure, or will it? When leasing, how long are the terms, interest rate, equipment pricing, etc. Is it a balloon payment at the end? I realize every program will be different and I am currently conducting all of the due diligence to make the appropriate decision for my situation. Also, will a Lease Program allow the individual to sign obo a LLC or does it have to be attached to an individual?

Thank you for this video!!!! 👍🏾

Very honest reviews

I like the way you explain everything, I’m learning a lot from your videos. Thank you

Brilliantly done!!! Thnx u

thank you for educating me

If you have a mc number you're not longer an owner operator. An owner operator owns a truck but operates under others authorities. If you have a mc number you're a small carrier. Hence m.c. means motor carrier

@unscripted_journey

3 ай бұрын

So if I get a mc number , but leased on to a company for 8months . Would my mc be considered 8months old still?

Awesome thank you for posting 🙂

Great informative video

This stuff is way easier these days, with all the technology. Back in the day, it was a lot more challenging for sure.

This was perfect 💯

Thank you.

_Thank you so much you are the best_

Love THE BOARD

You are amazing 😮!

Thank u a lot Godbless u useful information ❤

Great info thanks

Awesome video.

I've been pondering this for two years. I went to CDL school two years ago. I will buy a truck (Cash) and couldn't figure out what was best for this newbie. This has helped so much.

@jtrell4297

3 ай бұрын

Try to get a diesel mechanic to look at one if so and check truck engine idle hours

O/O will always be the better route to go

I'm leased on to a carrier. I book my own loads. They charge 17% but on top of that it's $250 service fee, $150 trailer use fee weekly plus maintenance fee etc..... I could be making $1000 more a week with my own authority.

Thank you ma’am

Great video

Great video and I love the content. if you have not already done so, would you please do a video on recommended companies that drivers can lease on to? Also, detailing the pros and cons of doing so? Thanks in advance

@Lb-003

Жыл бұрын

I would also love to see this kinda video

@jameswhite5948

10 ай бұрын

?? Please video

I learned something from this video..i never knew that the eld was supposed to be care of the company..the company that i am lease on to charge me like 500 dollars for the eld....

I’ve learnt so much from this video. I’ve always wondered how the breakdown across the board works. I’ve learnt a lot. I’d love to do work with your business. Do you dispatch for and lease on sprinter vans? I’m thinking of getting one then upgrade to a box truck.

First time watching you and it makes since I love your video. You should do a video on the different fuel card company, insurance, and a Freight factoring company that will be awesome❤ tag me so I can watch them

Can you give us some guidance on how to choose a carrier to lease on to?

Good work

I'm currently leased on to a major O/O company (*️⃣) that i pay 35% per load. I have been thinking of getting my own numbers but wasn't sure if it would be worth the frustration.... this is the exact info I've been searching for to help in my decision. THANK YOU! new sub

@LuisGonzalez-bi9ow

Жыл бұрын

Ls

I'm thinking about getting a full maintenance lease. Do I find a company first or lease the truck first? Do I need to register a business first? What is order I need to go through to start?

What do you think about Sub-haul agreements? Where the O/O keeps his MC/DOT on his truck but runs loads for a carrier under that carrier's MC#?

My opinion is most companies have dispatchers and I don’t like a minimum wage dispatcher running my company. I got my own numbers cause I don’t believe in force dispatch as a leased on driver

Love your channel and you! My question is referring to the accountant .. I realize as a self employed person taxes will have to be paid quarterly, but is that amount correct for monthly to the accountant just for doing your taxes? Assuming it was a a one or two truck owner operator?

hi Miranda do you think its still better to open a company in these hard times we are going thru right now ? thanks

Fuel cost. I’ve heard of smaller drayage operations where they split the fuel cost with the O/O. What are your thoughts on doing this in an OTR operation? I imagine a lot of O/O don’t like the idea of bearing 100% of the fuel at a 75/25 split. Thanks for the awesome content.

@mattaltendahl3837

Жыл бұрын

I pay for my fuel and am only at 67%. It's difficult at times but I have my own fuel card. Mudflap is a joke in my operation.

I have a question what's your thoughts on becoming a lease rent operater??? Or a lease purchase operater?

I had a question for you I watched one of your videos about getting your MC your. And all that good stuff so for all this to process and be rolling down the road and working takes about 90 days for it to go through or can you work while in the process of receiving some of the stickers or how does it work

Can you lease on to a company or haul their freight if you have your own authority?

Getting the loads starting out as new authority is getting more difficult, not bashing the vid at all. You mentioned, start up program at your company. at the end, what is that exactly?

Has ‘see-nineteen’ caused long delays (12mmnt wait) to obtain authority ??

Can you lease on to multiple carriers with different trucks for each carrier?!?!

MuthaTrucka! Look at those numbers! I think I'll stay company & let the "company" pay for everything for now. 🤑💸🚚🚛

Do penske subs require fica tax( blue decals ) on Tractor or simply in the written body of the contract in the tractors paperwork

Do you know of a reputable MCA broker I can lease onto. That will not charge a high percentage for each load? Thanks in advance.

Career that actually covers the ELD cost and mini carriers. Have you cover your load board because you dispatch yourself

What's the name of your company and where are you located? You seem pretty trust worthy!

If you lease to a carrier, do you need to pay your own registration?

Hi again Miranda question on this topic as a Freight dispatcher how much I can charge a future owner operator to setup his/her business. How much would you offer your service to them.

Hi Miranda. Can I own a company, purchase equipment, hire drivers, and then lease on unto someone else's authority? Or I need to personally driver the truck?

Do you provide service, like setting up carrier packets.

Great information also gorgeous 😍

I’m curious why you would want O/O that have their own authority? Does that conflict with your business? Wouldn’t they have access to the same load board you do or do you have your own loads that you dispatch out rather than relying on a job board? Trying to figure out the whole authority vs lease on thing.

@TruckingMadeSuccessful

2 жыл бұрын

Love this question! Yes absolutely, an owner operator with their own authority becomes a competitor on the loadboard BUT I strongly believe that people who are interested in owning their own business should eventually truly own their business. Leasing on means that the carrier still provides you with those loads for the most part. An owner operator with their own authority have complete control over their loads. Plus, under your own authority you make more money. Is it counterintuitive for me as a carrier? Maybe. But the goal of this channel is transparency and saying that “as a lease on you will make as much as an own authority” is simply a lie for the most part :)

So I'm leased to a company they charge 20 percent .. at the end of the year can I claim that's as losses there 20 percent they take out?

Hi, thank you for this video explaining everything. I wish I knew about your program before I started because I’m in a mess right now. I would like to talk to you about my situation. Do you have consultations available?

Ok so, what if I wanted to Get an MC Authority But won't be Purchasing an actual Truck? How would Getting Insurance and filings work? Since I don't have an actual Truck?

Im doing some research for a project. What are some of the biggest operational headaches you guys deal with daily? Ive heard BOL generation, and sending invoices is a headache.

I'm actually on that fence you were talking about on getting my authority. I currently have 3 trucks and have them leased on. I do not drive any longer due to a shoulder injury so I have drivers for them. What always holds me back is the cargo insurance and the unknowns. Insurance is expensive so my fear is something will happen to a truck(breakdown, loss driver, etc) and I'm still responsible for that premium. What are your thoughts on this? You may be the determining factor on what I do!! No pressure lol

@johndismang

2 жыл бұрын

And I actually have a pretty good deal where I'm leased on. They take 20% plus I get use of their trailers for nothing other than maintenance if needed.

@smithstevan1702

2 жыл бұрын

So how did it work out ? How is the money per week for your and your drivers ?

@bmizzle1074

Жыл бұрын

@@johndismang care to share

Why would anyone lease on to a carrier for 70 to 75% if they dont cover insurance. Thats a rip off. Im not paying someone 30 to 35% just to do paperwork and pay for am ELD. It would strictly only be to offset the insurance cost of a new authority. If they dont insure your truck why would you lease on. Dumb. Id do 85 to 90% and pay my own insurance though the carrier not 70 lol thats ridiculous. Also fuel cards don't get you more savings than the mudflap app which is free. We got fuel for $1,19 off today. With current market rates trucks are averaging $9k gross weekly. That would be $2700 a week at 70% to lease on.

@no1prince88

Жыл бұрын

Definitely correct. I just did numbers. You’re absolutely right.

@belle6071

Жыл бұрын

Exactly. I am leased on currently for 7% plus insurance 1200 a month plus 1200 a month trailer lease. I run solo hard-core OTR. Even in this tough economy, I am OK. Not great, because I have a hefty truck payment. One year to go for that. I totally love my Carrier. I love my dispatch and I don't feel alone out here. I have a team that has my back. They have a vested interest in my success. I feel like if I had to do everything I have to do plus what they do for me, my head would explode. I am so thankful for my team!

@ICYPROFITS

Жыл бұрын

@Belle that's a low percentage but they are making money off your truck and trailer payment. 7% isn't common because that isn't profitable. Regardless as long as you're happy and making money that's all that matters

@dcollins4096

Жыл бұрын

Actually it comes down to liability, that's the most important factor to consider which also effects your insurance premiums, etc.

@vicjjr31

Жыл бұрын

​@@dcollins4096Exactly! That's the way I see it. I have two trucks, both under my own authority. I do not have a driver...I'm it. I want to put a driver in one of my trucks, but the risks associated with any mishaps just doesn't seem worth it...at least not as a small carrier. I've met so many owner ops that have trash safety scores, high insurance, etc. I'd rather let a company larger than my own take on the liability and I just focus on my equipment. With that said, I'm considering putting on of my trucks under another company's authority and then put a driver in it. The other truck will remain under my authority...but I will be the only driver running under those numbers. Just makes more sense that way starting off. Running multiple trucks under your own numbers starting off can be counter productive. Even with seasoned drivers...shit can and will happen. I trust no ones instinct, judgement better than my own.

What is the best app for booking my own loads ?

Good morning love your videos I have them saved in their own category on my KZread playlist.😊 i'm not sure if I missed the information with my nervousness, being new to the industry. I see the link for the Dispatch course. ( i've taken like two other as well.) but I'm looking for information in regards to running a trucking company as a carrier instead of me being released on to the company that I have my truck with. Do you zoffer a course like this or do you start off by dispatch it and go from there? Just a little confused because I don't see the particulars in running a trucking company in the Dispatch courses that I previously bought from other places.

@TruckingMadeSuccessful

Жыл бұрын

I do have a course for carriers! miranda-c-s-school.teachable.com/p/trucking-made-successful-carrier-course-starting-and-managing-a-trucking-company

I'm lease purchase with own LLC however it's more company dispatch not self dispatch

Thank you, so much! After several videos I’m definitely subscribing. I really wanna move away from being micromanaged so much by my carrier. I’ve owned two businesses and retired once by 31…ready for the challenge again. Thank you for all the wonderful content. Do you have an updated video concerning the exact same content for 2024? Let’s go!!!!

@TruckingMadeSuccessful

7 ай бұрын

I dont, but I have lots of fun market videos :)

Keep On Truckin

Are you leasing on non- cdl drivers?

I like your approach for comparison purposes, but I'm not sure some of the expense data is fair. If I understood your explanation, you seem to have mixed one time expenses for accounting, taxes, and maintenance (essentially annual and coincidentally due in September for this example) with the other recurring monthly expenses. I think it paints an imbalanced picture.

@TruckingMadeSuccessful

2 жыл бұрын

Hi again Sam :) The video was based on our actual numbers from September. It happened that the LLC and Accounting (that are annual) fell on this month. The goal is to show the raw numbers (true numbers from September in this case). This means that as an owner operator running under their own authority, if these were your September numbers, you would be responsible for 100% of the expenses that fell on that month, and would get 100% of the income. If, however, you were a Lease On operator where you do not have your own authority and run under a carriers authority, for this month of September, you would not be responsible for certain expenses such as the Carrier's accounting fee, the DAT loadboard, the ELD, the Permit (in this case is the EPN program related to the carrier), and the carriers LLC tax. The expenses that I listed are the Carrier's expenses related to running the company, so a leased on owner operator cannot and should never be asked to cover any of these expenses. A Leased On operator is ONLY responsible for expenses directly related to his/her operations (fuel, maintenance, washes, tools, permits for their truck, taxes related to their truck and trailer, insurance, etc). I hope this makes sense!

Can you tell me me about your start up program for my own authority ?

Do you still lease on owner ops?

What is a irp?

What differences, if any, would an owner operator who only operates a sprinter van have?

@TruckingMadeSuccessful

Жыл бұрын

Unfortunately I couldn't tell you as I am completely unfamiliar with that equipment.

The other advantage of being leased to a carrier is that u get discount on maintainence & fuel , right ???

@TruckingMadeSuccessful

Жыл бұрын

Correct if they have a good fleet card

So I'm working on getting my own authority. You said the BOC 3 is annually. When I look it up it says it's a one time file and doesn't expire. Does that very from state to state or?

@TruckingMadeSuccessful

Жыл бұрын

Excellent question which baffled me as well. It varies from provider to provider :)

25% is insane 😮

2450 dollars a month for accounting? is that right?

2450$ for accountant ???

I read that unless u have more than one truck there’s no need to have your own authority…is that true..in Michigan ins is 30000 for a year 5000 down 2300 a month

@TruckingMadeSuccessful

Жыл бұрын

If you have a commercial motor vehicle that you plan to operate interstate, you will need your own authority :)

So are you supposed to save up until you have 750,000 saved up in insurance or as you get more experience the insurance goes down ? I can’t afford that

@TruckingMadeSuccessful

Жыл бұрын

Oh no no! Insurance companies charge between 15-45K per year for this type of coverage depending on what kind of experience you have. If it was 750K that the carrier had to have in their account, there would be no carriers.