honest answer take home pay

Last Years ''Net'' Pay was 79,000 to the dinner table for me...That was working about 9 months...

 

THATS why Uncle Sam was in here peeking in today...lmao HE WANTS YOU L/S hee hee

 

If you take most owner operators and do an average, most will likely clear between $40,000-75,000/year after expenses and taxes. There are many variables when it comes to net profit. Every owner will have different expenses. Some are better managers than others. Some haul for better rates than others. Some will go broke. There are legal ways in which to shelter income in this business that will show a lower net income.

 

net implies you have a maintenance fund. around 20 cpm without a trailer.

 

I remember someone on this forum claims his cost per mile 80something cpm so in theory you can survive.

 

Can you humor with a little detail about shelters?

 

No humor about it..If i am reading this right,GMAN may be talking about ''write offs''..There are many many places to shelter money and write off money in Business.You should know this if you are your own person,owning a truck..

 

You can own your equipment personally and lease it to your corporation. If you own a corporation, you could pay yourself a small salary and the rest as dividends. Dividends are considered unearned income and not subject to social security or self employment tax. You can set up a 401k retirement account. Just buying equipment can reduce your tax bite, although I have never been a proponent of buying equipment just to save taxes. You could also buy real estate. There are a number of ways in which to legally shelter income in business.

 

yes you are right. did not know there was a negative connotation .

 

this is how my last boss ended up with 30 trucks. just didn't want to pay to Uncle Sam