CAN'T FIGURE WHERE THE MONEY IS

[kytrucker42345]

can't figure out where the money is in driving expedited for someone. all pay by 1099. so therefore i have to pay 15% selfemployment tax. most pay 60%. and i pay fuel,tols and etc. there for i pay fuel taxes. even seen one that wanted you to pay for oil changes. everyone i talked to said i would gross about 800.00 per week. subtract fuel and all taxes. WHERE IS MY MONEY IN ALL THAT.
i clear that after taxes now and home every weekend. that could b the reason that i have been told my pantherII o/o that i am one of the very few that is t/t qualified.

 

[davekc]

the .15 percent you refer to is caculated after ALL your expenses are deducted. Not on the total of your 60% gross.
Hope that helps
Davekc

 

[terryandrene]

Your comments lead me to believe that you're thinking about driving an E-unit (T/T) and that you've not talked to enough of the right owners. If everyone you talked to came up with $800 gross to you, It sounds like you've been talking to B-unit (cargo Van) owners. $1333 gross to the owner is a very doable weekly average for a single driver in a van, for many carriers.

Picky point: You've gotta pay FICA of about 7.5% on your taxable earnings whatever your driver status. Self Employment tax is about 7.5%, not 15%. It's the same as an employer must pay