Considering Prime, Sell me

Everyone's weekly is going to look different. Everyone had a different tax burden and different choices for insurance. I will say that post-taxes we BANK more than JCW used to GROSS as a mechanic.

 

Nope, after taxes. Figure 2500 miles at .40 per mile gross. I always shoot for 2500 miles weekly minimum. Most weeks I make it, a few I don't.
Example is last week, I ran 2098 miles X .41 = 860.00, then add in my travel Allowance of 167.00 ttl gross pay was 1027.00. After taxes and deducations, wife took home 656, and I had 200 on my card. The only insurance I have is Vision which is an outstanding program. I don't need medical as my Military Retirement takes care of that. I also have money coming out of my check to payback for chains and equipment etc. Reason I did not make 2500 miles is because I was in the shop for a day and half. I made .41 per mile last week due to fuel bonuses. Normal pay is .39 per mile as I drive a light wt.

 

Who can tell me what's wrong with this math as it pertains to Prime pay structure?

 

He multiplied his total miles x his TOTAL cpm, then added in his per diem.

CORRECT: ((Miles x [total cpm pay - 8cpm]) + (fuel bonus cp x miles) + (other additions like detention or stop pay)) - taxes + ( 8 cpm x miles) = gross pay.

FYI that's straight off a settlement. NOTE: Total cpm pay = 33 cpm to 80k miles, 34 cpm 80,001 to 120k, and so on. Then add 5pm for a lightweight truck. JCW is at 39cpm or 34cpm plus 5cpm ltwt bonus.

 

Yep. Travel allowance (per diem) is .08/mile of you base pay.

So if your base pay is .39/mile. You are actually making .31 taxed plus .08 untaxed per mile and your settlement should reflect this.

 

Came straight off my pay settlement that they send me. Will send it to you if you like. The only thing I worry about is the gross/net The rest is all fluff and I let the accountant wife figure it out for taxes. She gets all the receipts etc, and reviews the pay settlements, if it doesn't look right or come out right then she picks up the phone and calls payroll. Pay Settlement says I made .412 cpm as a gross pay per mile @ 2098 miles and then was paid 167 in Per Diem.

 

Check the math... it looks that way, but your effective mileage rate is per DTB and U2.

 

Not argue'ing it. Just can't see complicating things, just reporting what was on my pay settlement. It does not show the .34+.05+fuel savings.
Was trying to give an example to the the person of kinda what they could expect.

 

Well, for me, give or take a few cents a mile doesn't matter. My accountant wife also figures these things. Anyway, this will still be good money for us in many a year/decade!

 

How much is the discount? I currently get 20% from one of my previous employers.