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

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

  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
     
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  3. 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.
     
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  4. 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
     
  5. 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.
     
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  6. pumpkinishere

    pumpkinishere Medium 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
     
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  7. SJF

    SJF Bobtail Member

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    What company are you working for?
     
  8. SJF

    SJF Bobtail Member

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    What company are you working for?
     
  9. Crude Truckin'

    Crude Truckin' Alien Spacecraft

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    @TB John @Lonesome this guy needs a good company!
     
  10. TB John

    TB John Company Shill of BYOB & CBD

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  11. 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.
     
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