Pros and Cons of Roehl's Tax Free plan?

Yeah - I second the condescending tone there . . .

So, are they saying,

52.5cpm is now 40 cpm - and of that, 29 c is taxed, and 11 is not?

 

It sounds like a tax liability savings for Roehl. No income is tax free.
Seems like a per diem that transfers the payroll tax from Roehl to the driver.

They pay 12.5 cpm less to you, in return they pay you an 11 cpm "non-taxable reimbursement"(per diem)
They gain 1.5 cpm you lose the tax write off (hotels and food) per diem.
Someone will have to pay tax on that 12.5 cpm. Either Roehl or the driver.
Tax man cometh, he will get his cut.

I always take the option that gives me the most income and worry about taxes after I bank the money, not before. I don't mind paying taxes. Means I made a profit. Payroll or Income, both are good.
Good luck.

 

Don't board that ship,Stand at the dock and wave as the ship sails

 

First chuckle of the day - thank you.

 

Check the tax topics forum, I think this is currently being thrashed to death over there.

 

You are going to pay less in taxes if the regulators really allow that, then comes retirement and you look at your social security benefits and they are real low....if you go with that plan better be prepared.

 

Lol. They're charging you 1.5cpm for the per diem benefit.

On a 600 mile day, that's $9.
About $40 a week.
$2000 a year.

FOR A LITTLE COMPUTER PROGRAM IN PAYROLL.

 

It's per diem. Take it through the company and figure out how much tax savings you will have. Then put that saved portion into the company matching 401k plan. It's a no brainer.