GOING IC?

This blog entry is meant to mainly serve  as a personal notepad & journal. 

On June 27, I decided to fully explore the possibilities of of life as an independent contractor, leasing to Schneider National.

I filled out online applications with Schneider National IC division & with Schneider Finance. 

My sporadic desires to explore this possibility was amplified by my co-drivers intentions to do the same thing. He has intentions of jumping over to IC later this month or next month. His absence would mean that I would either have to run solo or request a new team partner – which is always a gamble. 

Friday, July 5

 I got a voicemail from K-n, informing me that my truck lease loan had been approved, but I needed to talk to the IC managers first to secure approval for my transfer from the company side Schneider National. 

This morning, July 8,

I called K-i, G-n's substitute while he is on vacation. (This is the IC recruiter's office.) K-i told me that everything on my application is looking good so far. She will be compiling a checklist to go over with me on, later today or tomorrow.  

July 8. 11:30 am:

 K-i (recruiter ) called to tell me that everything on my check list & background check came out roses. I have been accepted into the IC program. So the next thing I need to do is contact K-n (Schneider FINANCE) about a truck. Then, I will need to wait until the 15th, when G-n comes back from vacation. He will arrange for me to sign the lease and attend orientation in Charlotte, North Carolina.

July 9. 13:30

K-n, from Schneider Finance, called me. We talked for about 45 minutes. As an owner-operator within the Schneider "family", I will be at a tremendous advantage. 

    They will be paying for my first 6 months of membership with ATBS, a small-business accounting support & advice company. 

   I made a tentative decision about which truck I would be leasing. After contemplating a variety of advice & opinion from various sources, I decided to sign the 3-year lease a new 2014 Freightliner Cascadia. Outsiders may gasp at the $147,000 pricetag, as I did, but the benefits & sweeteners to this deal makes logical sense. 

   We developed 2 cash-flow budgets, based upon elevated household & business expenses versus reasonable revenue expectations. I'm taking the stance that my net, take-home income won't be any more than what I'm earning now, as a company team driver. In time, after refining, my efforts will yield due rewards.

July 22, 2013

  I've been keeping busy with my team driving, just imagining what things will be like when I transition to life as an owner-operator. 

Due to a breakdown and a challenging East–West freight market, I have decided to stay out on the road until August 1. Getting home by this Thursday or Friday appears to be impossible. We are currently in West Memphis. We need a load to California to pick up our original tractor, which is been in the shop for engine repairs; Then we need a load back to Nixa, Missouri (home).

I will start owner-operator orientation August 5. 

This morning, I called the IRS & acquired my EIN. (Employer Identification Number).

Tonight, I completed my W-9 form & I also corrected an omition on my application, by completing the e-signature.