$5k to $10k a week? Anyone making this much?

Discussion in 'Oilfield Trucking Forum' started by Chimchim360, Oct 16, 2021.

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  1. LoneRanger

    LoneRanger Road Train Member

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    that’s bad accounting. They can easily pull out 30-50k and pay no income tax and company doesn’t pay tax on that.

    the way they are doing it the company pays taxes on the money left over.


    Hell they can even pay 12k per year to their young kids if they have it and their kids won’t pay income tax on it. Once again company will pay less taxes.

    the way they are doing it means they will get taxed up the wazoo
     
    LoneRanger, Nov 25, 2021
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  2. bonder45

    bonder45 Road Train Member

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    We are all guessing here thinking we know their story, how much money they invested into the company, what kind of write offs they have, etc.
     
    bonder45, Nov 25, 2021
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  3. LoneRanger

    LoneRanger Road Train Member

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    true but my post was based on the available info. All that changes when new info is available
     
    LoneRanger, Nov 25, 2021
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  4. Stop Truckin Around

    Stop Truckin Around Bobtail Member

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    @LoneRanger you have to pay income tax either way.
    LLCs are flow through entities so it doesn’t matter. (Most people open LLCs)

    If it’s a Corporation, your thinking is on the right track.
     
    Stop Truckin Around, Nov 25, 2021
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  5. pumpkinishere

    pumpkinishere Heavy Load Member

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    All profits stay in company until the capital is high enough to make me feel good then we will pay ourself much more
    I’m just giving us enough for personal bills and such
    We’ve made 45k being out 30 days October and November, PO only, we been taking it easy
     
    pumpkinishere, Nov 25, 2021
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  6. SJF

    SJF Bobtail Member

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    What company are you working for?
     
    SJF, Nov 30, 2021
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  7. SJF

    SJF Bobtail Member

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    What company are you working for?
     
    SJF, Nov 30, 2021
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  8. Crude Truckin'

    Crude Truckin' Alien Spacecraft

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    @TB John @Lonesome this guy needs a good company!
     
    Crude Truckin', Nov 30, 2021
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  9. TB John

    TB John Company Shill of BYOB & CBD

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    TB John, Nov 30, 2021
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  10. TB John

    TB John Company Shill of BYOB & CBD

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    The best company ANYONE can work for is one he puts together for him/herself. Work as much or little as you want to. Control is all in your hands. Success (or failure) is all in your hands.

    You need the right tools for success thats where BYOB&CBD come in offering the finest in lease deals and equipment to guarantee success in which ever segment you choose.
     
    TB John, Nov 30, 2021
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