Pay and cpm

These days 2500 is very good pay, make sure you do payroll and do your taxes quarterly and not yearly, also put money on your 401k, it will save you a bit on taxes. Get a good tax person, ( just because they charge $1200 to do taxes doesn’t mean they’re good usually) lol

 

If you’re 1099 you’re really making 50 cents a mile, maybe a little less, by the time taxes come into play. 1099 should be 80 cents a mile or a little more to be competitive with current w2 mileage rates at the end of the day. But if you like the job and are happy with what you’re doing and you’re disciplined enough to set money back for taxes and you don’t mind not having work comp or any recourse for lost wages then it’s probably not a bad job.

 

You're right. I missed the pay period and only focused on the nunbers.

 

This makes ZERO sense. Typical trucker math.

Him being 1099 only affects the fact that he has to pay both sides of Social Secuirty and Medicare. Which is 15.3% vs 7.65% 1099 workers don't magically pay more taxes because they're 1099.

So in reality he's making 55.4CPM. No clue how you think he should be making 80CPM to compensate for being 1099.

I guess if you bring up workers comp? Self insurance cost for that is laughably minor. IIRC it was $60/month for me.

 

Dang I was off by a whole nickel. 55.4 cents with zero benefits. But I guess he can buy his own OccAcc policy and probably qualifies for Obamacare. And my 80 cents came from the fact there are plenty of companies paying 70 cents or more on a W2, with benefits.

 

Ok I missed that part. I thought you were trying to say he needs to make 80CPM to make it 60CPM W2 equivalent.

I think either way $2500 a week is pretty good for what it is. A lot of the 70CPM W2 companies ain't gonna give you 4000 miles a week.