If there's a trucker making enough to pay 33% in taxes... he does not need to worry about the hourly pay... that's for an AGI of $189,301 to $411,500 for someone with a filling status of single. Unless he's a lease / owner op but that's cause they get a 1099-misc and taxes are just more complicated...
33% taxes isn't referring to the Federal Income Tax bracket. It is commonly accepted figure for estimating gross verses net. In the US. Not entirely accurate, but a good number for comparisons and generalities. In addition to Federal Income Tax it includes State Income Tax, FICA, Unemployment, and Social Security.
As was alluded to earlier the OP used an estimated gross income of $35,000/yr which was equated to $6.85/hr after taxes. Since wages and salary are given in gross income $6.85/hr is more the equivalent of a job paying $10.35/hr. The $7.40/hr figure is equivalent to $11/hr. Really not a bad starting wage for a job with so little training.
Still, like many others I don't look at it this way. I see $35,000 a year to drive around the US and Canada with my buddy in a nifty new cozy RV without having to pay for fuel, tires, maintenance, or repairs; all while someone else runs the business and deals with payroll & withholding and sales and marketing; and without any expenses for rent, electricity, cable, or water/trash. Plus I will be required by law and circumstances to take breaks (I've worked 32 of the past 48 hours). Bring it on.
Still, like many others I don't look at it this way. I see $35,000 a year to drive around the US and Canada with my buddy in a nifty new cozy RV without having to pay for fuel, tires, maintenance, or repairs; all while someone else runs the business and deals with payroll & withholding and sales and marketing; and without any expenses for rent, electricity, cable, or water/trash. Plus I will be required by law and circumstances to take breaks (I've worked 32 of the past 48 hours). Bring it on.
that's me as well. Once I go solo I'm giving up the apartment, taking my cat and whatever I need into truck as well as my mother (who lives with me... yeah I'm that good son taking care of my mother), then everything else goes into storage and I'm gonna live out of that truck. Probably keep my home of record as my sister's for tax purposes since TX has no state income tax (out of the check itself I mean :P ). No more paying $1200 a month in rent, electric, cable, etc. Just my food and cell phone bill :D Then after about 2 years once I have saved up I'm gonna buy a house in NC. Should have close to 20k saved towards a down payment, give or take.
Also as I have always been in the lowest taxable income tax bracket (think most I ever made was $13 per hour 40 hours a week, no OT cause it was a salary job), I have always estimated my tax witholdings around 11% which was federal, medicare (caid whatever it is) and SS.
We'll see how things work out for me in the trucker world of paychecks :D
Phox, did you say you're taking your mom With you? I hope she's a hardy old bird. That could be rough for some.
Great, now we need a safe space in here like millennials need on college campuses.
That's enough out of you too! You both are being racist, sexist and homophobic, and my delicate sensibilities are under attack!
I want my mommy...
Ok sorry for hijacking this thread with my marginally witty and crude attempts at social commentary. Then again, I am Persian... Hijacking is kind of in my blood.
Hey now lol.
While I'm thinking about it Persian, when was the last Challenger load you pulled out of Louisville? Pat posted a pic and I recognized them right away.
Trucking when being paid by the mile, is more in line with a sales job, than an hourly pay job. You are being paid a commission on how many miles you run, similar to a sales job.
If you want to pursue an hourly trucking job, there are many available, including yard dog driving jobs. Either of these can be the type of truck driving job that gets you home every night.
However, in order to be considered for a good truck driving job of any type, you will have to pay your dues by driving for lower wages until you can prove that you are not a high liability risk to an insurer.
The longer you drive, the more doors will open, and make more opportunities available.
I liked your analogy of trucking and sales jobs in context of the fallacy of forcing them into a "paid by the hour" mentality. However, I disagree with your statement of having to "pay your dues" to land "a good truck driving job of any type." It's something I've repeated over and over again on this website, and it's based on my experience and the experience of others ... location trumps experience.
Depending on where you live, you might have opportunities for trucking jobs that pay more and give more home time than the majority of trucking jobs available to the nation. You don't always have to have experience to land a higher paying trucking job, sometimes you just have to live in the right area.
In my experience when trying to estimate my net income, .75 is pretty accurate when figuring out your taxes. .66 seems a little on the high side.
While I'm thinking about it Persian, when was the last Challenger load you pulled out of Louisville? Pat posted a pic and I recognized them right away.
Well ironically, I just picked up a load from there today!
No less than eleven drops on this bad boy. 5 in Iowa, 2 in Nebraska, 3 in the Seattle metro area and 1 in Oregon.
This was by far the quickest turnaround I've ever had there: arrived at 11, started loading at 3:30, tarping at 5, and hit the road by 7.
I didn't read this whole thread so forgive me if I repeat stuff. I worked at a govt job where my base salary was $56k plus overtime night pay 6 weeks of vacation. 10 paid holidays... but I was miserable.
I've been at prime since sept. Am still I the TNT phase. I'm giving up my apartment and will live in the truck. that is a savings of rent.. insurnace...electric..internet..cable.. $1700 per month. cost of living in NJ is like 3 more than Springfield MO Where prime is. I'm making $700 per week right now.. I'm used to clearing about $700 after taxes and health benefits etc. But I will have more money with driving cause of l3ss over head. That is less streaa
Plus... I realize I no longer dread the work week. I forget what day it is and before I know it.. thw week past. I used to cry going to work.. now I laugh all day With my trainer. Screw the pay per hour and look at the whole picture
Prime Inc has their own CDL training program and it's divided into two phases - PSD and TNT.
The PSD (Prime Student Driver) phase is where you'll get your permit and then go on the road for 10,000 miles with a trainer. When you come back you'll get your CDL license and enter the TNT phase.
The TNT phase is the second phase of training where you'll go on the road with an experienced driver for 30,000 miles of team driving. You'll receive 14ยข per mile ($700 per week guaranteed) during this phase. Once you're finished with TNT training you will be assigned a truck to run solo.
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Trucking when being paid by the mile, is more in line with a sales job, than an hourly pay job. You are being paid a commission on how many miles you run, similar to a sales job.
If you want to pursue an hourly trucking job, there are many available, including yard dog driving jobs. Either of these can be the type of truck driving job that gets you home every night.
However, in order to be considered for a good truck driving job of any type, you will have to pay your dues by driving for lower wages until you can prove that you are not a high liability risk to an insurer.
The longer you drive, the more doors will open, and make more opportunities available.