Mathematicians of TTR, How Much.......

Find a better company. We run NC, you'd be pulling down at least 60-70k here.

 

I may be wrong, but putting money in a ROTH IRA doesn't reduce your tax bill does it? Putting money in a Traditional IRA does save you tax money as long as you are under the income cap for one, which is SOMEWHERE over $100k/yer.

ROTH allows after-tax money to be shielded from any future income tax (until they change the rules). Traditional IRA allows before-tax money to be shielded from income tax until you start spending it, usually after retirement.

 

Isn't per diem, under the 2016 tax changes, now just pay given to your account daily instead of pay given per mile or pay given per hour?

The question reminds, absolutely no disrespect mean to OP, me of someone on disability or welfare focusing their life on not hurting their current pay schedule instead of focusing on getting a better paying situation. I lost track of the increasing pay for drivers when I sheltered myself inside a home-daily dedicated job which was stuck paying $40-50k/per year. When I FINALLY had my fill of it and went back OTR I got an immediate 40% pay increase and often work less hours per week.

I understand the OP IS trying to compare his current pay with per diem to possible pay without per diem. If the OP is happy where he is at and his pay is enough, don't change. Being single, like me, you don't have to make the most money possible doing a job you hate. But recognize $45k is rookie money these days. For some people the regular schedule is more important that possible extra income and irregular schedule so many driving jobs require.

 

The 401k contribution limits are of 2 kinds. 1. The IRS limits 401k contributions is almost $20k per year. 2. Your company may only match up to a much lower amount, like 6% of your gross pay, but you are still able to contribute up to the IRS limit.

If you can afford it ALWAYS contribute to the 401k to max out what your company will match. This is like buying a guaranteed winning lottery ticket. You are GUARANTEED your contribution will "earn" the company match. That's free money. Take the free money. While the stock market will USUALLY average more increase than what most companies may match in your 401k, some years the market loses money. A company match is GUARANTEED to add to your account.

 

I wanna know how that $22G tax free money works out in a couple of months.