When people talk about pay...
Discussion in 'Questions From New Drivers' started by runawayload, Feb 16, 2013.
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I really don't know, you will have to ask my insurance agent.
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If it's an O/O you can be sure it's gross . Ask about their net or reportable income for IRS and they'll start telling you about what a great tax person they have .
Roadmyth Thanks this. -
Depends. If its above $0 we are talking about gross if its below then it net.
Guntoter Thanks this. -
it depends, net pay is a more practical representation of your pay because thats what ends up in your bank account, but gross is closer to your "total" compensation.. i have used both, but gross is what most people use when theyre talking about their pay.
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Net isn't a good indicator because the deductions are so variable - optional insurance , 401K , etc .
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For O/O this is no joke. Your tax returns will usually show $250K or more gross and less than $10K net if you're doing it right. Many O/O's really have no idea the real amount they actually put in their pocket.
critters Thanks this. -
Thanks. The question was not about deductions but more about when drivers say "I take home $800 a week" That $800, would it be NET or GROSS?
Generally when I discuss my pay I use GROSS when I say how much I make a year "$50k", when I talk about my bi-weekly paycheck I use NET "$1400". These numbers are just generic. -
when i talk to a new driver i always talk take home first then talk how to get to that part of the money,this is not a get rich industry we all know that but a little honesty to the newbie's i hope will make for happier driver.I assume you asking for a reason about pay?
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If your talking NET, what goes in my pocket, then I make $150/week. The rest are deductions for wife, mortgage, utilities, kids tuition, etc.
So I work for $7,800/year.
Is that what you're looking for?
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