Quote:
Originally Posted by BanditsCousin
At 50K a year, expect to pay 25-30% in income taxes.
That's about right, assuming no deductions. Since he'd be an employee, the only real deduction he would have related to the trucking business would be the standard meal deduction. My taxes were about 26% of my 1099 income before deductions. After deductions, they were about 2%. But I'm just that good.