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Independent contractor routes that net over 1,000,000 a year
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<blockquote data-quote="FedGT" data-source="post: 1849459" data-attributes="member: 58838"><p>I don't think this is really worth repeating too much. Every piece of machinery depreciates, everyone should easily know that before buying any business. These trucks do not depreciate nearly as fast as you claim. 2006 MT-55 p-1200 with 180k still sell for $32k+, consider a brand new one is $66k. 9 years of driving and 5 of depreciation for a truck that is still 50% value. It is not like the new owner does not get to depreciate the assets when they buy them either so I don't know why you believe this is a massive situation. If the truck is junk and needs to be replaced the likelihood is that reoccurring costs are going to be revolving around 8-15k a year to keep it running which when you by a new one you can add the majority of those costs plus the cost that the contractor had to pay in renting another truck.</p><p>If you want to try and claim the trucks actual cost including finance charges, that is not valid. If you can't cash out a truck and want to pay the ridiculous interest that is on the individual taking the loan and has nothing to do with depreciation.</p></blockquote><p></p>
[QUOTE="FedGT, post: 1849459, member: 58838"] I don't think this is really worth repeating too much. Every piece of machinery depreciates, everyone should easily know that before buying any business. These trucks do not depreciate nearly as fast as you claim. 2006 MT-55 p-1200 with 180k still sell for $32k+, consider a brand new one is $66k. 9 years of driving and 5 of depreciation for a truck that is still 50% value. It is not like the new owner does not get to depreciate the assets when they buy them either so I don't know why you believe this is a massive situation. If the truck is junk and needs to be replaced the likelihood is that reoccurring costs are going to be revolving around 8-15k a year to keep it running which when you by a new one you can add the majority of those costs plus the cost that the contractor had to pay in renting another truck. If you want to try and claim the trucks actual cost including finance charges, that is not valid. If you can't cash out a truck and want to pay the ridiculous interest that is on the individual taking the loan and has nothing to do with depreciation. [/QUOTE]
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