JCT - Page 55 - Truckers' Trucking Forum

trucker112166 · **^ Top** #**541** 04.20.2009

I just got the call this afternoon, I am in going to Sulpa in JUly, I can't wait

GrizzlyMan · **^ Top** #**542** 04.20.2009

Quote:

Originally Posted by knighton5

OUCH. Your putting in alot of hard work and many hours for just 35!
But the bottom line is, if your happy doing what your doing, then thats what counts! Drive Safe

Understand that first of all, I had a truck paid off most of the year last year before going to JCT, and I only started with JCT in August. My gross last year was around $145,000 and my adjusted taxable income was $23,000. The advantage of being self-employed is that if you're smart with your taxes, your taxable income can be incredibly low, keeping your tax liability to an absolute minimum. I'm going to allow American Truck Tax to do my taxes next year and see how well they can do. I took training courses in tax prepararation many years ago (when my ex-wife and I owned our own company) and have been doing my own taxes since.

Here is something important to note: adjusted taxable income has nothing to do with how much money you ACTUALLY had available. If you're paying taxes on however much you ACTUALLY made, you're getting screwed!!!!

GrizzlyMan · **^ Top** #**543** 04.20.2009

Quote:

Originally Posted by trucker112166

I just got the call this afternoon, I am in going to Sulpa in JUly, I can't wait

Congrats and welcome aboard!!! If you have any questions at all, feel free to ask. We're all here willing and able to give you any advice you need.

GrizzlyMan · **^ Top** #**544** 04.20.2009

Quote:

Originally Posted by jlkklj777

I believe there are 5 or 6 states without an income tax; New Hampshire, Delaware, Florida, Texas, Nevada.... Not sure about the other one.

Washington also has no state income tax. Note that's where I live!!! LOL

trucker112166 · **^ Top** #**545** 04.20.2009

Quote:

Originally Posted by GrizzlyMan

Congrats and welcome aboard!!! If you have any questions at all, feel free to ask. We're all here willing and able to give you any advice you need.

thank you ,Ihave been reading this thread from th begining so i think just about everything has been covered, just hope they still got lots of frieght coming to FL

jlkklj777 · **^ Top** #**546** 04.20.2009

Quote:

Originally Posted by GrizzlyMan

Washington also has no state income tax. Note that's where I live!!! LOL

After a quick search on line I discovered there are actually 9 states with no individual income tax;

The only states that do not collect individual income tax are Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming.

*NOTE: New Hampshire and Tennessee assess tax on income from interest and dividends but not from normal wages.

I believe If you live in any of the above states then you would actually have a tax advantage by being in business for yourself.

There are many people who advocate limiting your taxable earnings as much as possible but this philosophy make come back to haunt an individual in the event of a disabling accident or retirement. In the event of disability the benefit amount is usually 2/3rds of your normal earnings while I believe social security benefits are actually based on the last 5 years of contributions prior to attaining retirement age.

LMB · **^ Top** #**547** 04.20.2009

Quote:

Originally Posted by trucker112166

thank you ,Ihave been reading this thread from th begining so i think just about everything has been covered, just hope they still got lots of frieght coming to FL

I will be headed that way tomorrow. Back on my Wal Mart run. Going to Winter Haven.

Alanp613 · **^ Top** #**548** 04.20.2009

Quote:

Originally Posted by trucker112166

I just got the call this afternoon, I am in going to Sulpa in JUly, I can't wait

Welcome to the JCT family. July will be here in no time. Like grizzly said we're here if u got questions.

Alanp613 · **^ Top** #**549** 04.20.2009

Quote:

Originally Posted by trucker112166

thank you ,Ihave been reading this thread from th begining so i think just about everything has been covered, just hope they still got lots of frieght coming to FL

Yup we've got plenty going to and coming out of florida. If ur in jacksonville area you'll be loading soy milk back out and if ur in the south most likely oj back out. And depending on the dm that u get they might get u to fl often or not til ur hometime. I'm from dfw and we have tons of freight there but lately I haven't been by there for the past month.

suks miss my family lol. But I don't let tht get in the way of making money.

ddainiuss · **^ Top** #**550** 04.20.2009

i live in chicago now, thinking to move to houston. Where is best chance to get through home most often?

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