If you’re the only one then ,Usually LLC aren’t worth anything and usually will cost more to maintain then just running as a sole proprietor. I f your accountant told you to form one,I was curious why if you’re the only person in the LLC.If your driving the truck the LLC doesn’t protect you from being sued and as far as savings on your self employment tax of 15% even if you save 15% on 70,000 you’re self employment tax would be roughly $1070 you would save about $200 but you would now have to pay your accountant to do 2 tax returns one for you and one for the LLC so really you just spent the money somewhere else and it probably will cost you more then the $200 to have a accountant do the taxes on an LLC
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Discussion in 'Lease Purchase Trucking Forum' started by Slipgear44, May 28, 2007.
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15% of 70,000 is 10,500. He's not going to save that on the entire 70k though. Only on the amount he disburses to himself as company profit, after he's paid himself a reasonable salary.
There's legitimate reasons he may want to form an LLC. But, it should be be his rationale. Not because an accountant sold it to him.Pepper24 Thanks this. -
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Who are you with now?
Sorry haven’t had chance to get settlement pic I had a couple personal issues I’m no longer with dart. Not a bad company I’ll show you what my ytd total was as of the 19th. My first couple weeks was pretty low but I had a lot of repairs to pay for. Honestly if I had to do it all over again I probably would but not lease purchase I’d go company driver.
If you wanna make good money and ain’t afraid of cold ( cold as in up to like -70 degree with wind chill ) then go to North Dakota haul production waterPepper24 and Justrucking2 Thank this. -
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I’m only showing one pic uploaded will try to post pic of my ytd earnings after expenses $3807 -
You can make money but just so you know that $17xx.00 check was a 9 day period if not for repairs I would have made around $2200 but that was on 4,141 miles
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