Schneider charge 2 cpm administrative for perdiem ?

So basically, being off of per diem you pay full taxes through the year and when you do taxes you figure out your per diem and deduct it from your income, then you get whatever you over payed in taxes back.

On the per diem plan, about half your income is considered per diem pay and is non taxed. So each pay check is larger through out the year because your paying 1/2 the taxes as off the per diem plan rather then paying full taxes and then getting some back when you file taxes. Since only half of your income is taxable, it might drop you into a lower tax bracket as well.

 

When I bought my new house, the mortgage company wouldn't consider that part of my pay. It cut 8,000 off my yearly income. Luckily, we still qualified. It can be a good thing, or it can be a bad thing. I don't ever see it being worth 2 cents a mile to get it. Just my opinion.

 

Very true, thats something else to consider.

I currently don't put anything into the 401k nor do I plan on being a company driver long enough to even be worried about what I'll be collecting on social security.

It basically comes down to what plan fits you best. Everyone's situation is different. When it comes down to it, if your having trouble figuring out what's best for you, talk to a tax professional or accountant.

 

That sucks. I've never bought a house but I've got an auto loan while I was on per diem and I had to explain that my taxable income wasn't my only income and they just added my per diem in.

 

I do admit that a 2cpm fee is complete bs, but it still works for some people, while others it may not.

 

What social security? The program is projected to go bankrupt by 2035

 

They have been predicting the bankruptcy of SS for at least the last 50 years and it hasn’t gone bankrupt yet.

They will bail it out one way or the other, they always do.

 

How much debt can the federal government dig us into before it finally catches up to ALL of us? These reckless fools are setting us up for a Greece times 1,000,000 situation.

 

I seem to recall my ss reflected total sctusl wages and then the taxable income was less the per diem payment total. So I dont believe your overall ss contributions are diminished.

 

A lot more unfortunately.

Greece’s economy is a very small fraction of ours (roughly the same as that of Dallas, Fort Worth and Arlington, Texas put together) so any politician around today will be long dead before things come crashing down like they have there.

I don’t disagree with what you are saying, I actually agree 100% with the sediment but that will not stop our politicians from continuing to kick the can down the road for several more generations at the least.