Personal tax expenses

The answer is it depends .
It is based on your profits so if you no make money you no owe money . If you makes lots of money you owe lots of money .
You will be considered self employed so you pay your half and the half you are used to the employer paying

 

Find a CPA that knows about trucking and worry about making enough money to pay taxes on!! When you have a "high gross" and low profit business like trucking the IRS will be going over you with a microscope! You'd better have the paperwork correct! Let an accountant do that while you make the wheels turn!
Just my .2 cents!

 

How much do you estimate making, after expenses? I f you make the same amount as you're making now, simply double the SS and Medicare withholdings and that's roughly what you'll pay along with the federal income tax of course. Nobody here can tell you how much health insurance, heck Obamacare can't even tell you how much Obamacare will be, accurately anyway. Every state has a different way of calculating their income tax, if they have one.
Your question throws some big red flags. This is basic financial knowledge. I would highly suggest taking some online financial and business management courses before starting a high revenue, low margin business like leasing a truck.

 

Before you sign up for a lease make sure you get some education on business, accounting and taxes. You don't need to be an expert. That's who you hire, but you need to understand how it works.

Here's a basic starting list to get you started. Research these items:
balance sheet
P&L
cash basis vs accrual
Capital lease vs operating lease- tells you if you will depreciate or expense your truck
TRAC Lease- Many op leases are trac leases. Can be very dangerous if you don't understand them. You can be left holding the bag on a truck you don't have possession of in some cases.
Sec 179- if levels continue, a capital lease can recognize expenses sooner than an op lease. (most o/o's don't understand this and assume all leases are better than loan payments because some recruiter told them so. Almost never the case in young growing companies that are investing capital every year in equipment)(your mileage may vary)
carry forwards- don't try to calculate, just know their existence
Schedule c
schedule se- self employment tax
schedule es- estimating quarterlies
If you like new stuff all of the time, you'll want to look at gain/loss on the sale of an asset.