How much taxes should an installer pay in a year?

[SatStarr]

I have a question for anyone who has been or is currently a Directv installer.

IF i make 50,000 in a year approximately, how much in Federal taxes would i owe?
after making what would be standard deductions for Truck, Gas, Supply's etc.

 

[Joe Diamond]

There is no answer other than to state that everything you used to make the $50,000 is a deduction of one kind or another.

Work hard to reduce that 50K because when it is where it has to be you then get to calculate both sides of FICA..about 14%. Then your GL insurance & maybe workman's comp insurance is based on your gross. Your hospitalization insurance is also a deduction if you have the money to pay for it.

You want to look elsewhere for tax advice. But you are starting to understand why you really need about $60.00 per hour on the job.
( $60.00 x 6hrs x 5 days = 1800 /wk) X 50wks =$90,000.00 / year. That gives you two weeks off and will keep you in gas and beer with a truck that don't smoke.

This also suggests the HSP offer of $800.00 to $1000.00 per week is a bare bones deal.

Joe

 

[jcrandall]

May I suggest checking out our Installer Zone forum, see things link:

Can You Handle the Pit?

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