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Post by bowtie on May 17, 2004 18:55:05 GMT -5
Can anyone explain the per diem vs. non-per diem milage pay that Millis offers?
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Post by country1 on May 20, 2004 19:02:29 GMT -5
Millis straight per mile is all you get,plus one week paid vacation per year (after one year) and 2 weeks after 5 years.
per diem pay is 26 cents per mile to start and 8 cents of that is per diem pay. Plus 2 weeks vacation pay after one year. and safty bonus, both quartly and yearly, per diem is paid before taxes ( the gov allowes $38.00 per day for all days away from home as tax deduction at end of year. per diem pay gives it to you every week Example Per diem pay on 3000 miles $540,00 taxes at 27 % $145.00 $400.00 per diem $240.00 Total pay chek $640.00.
Non per diem 3000 miles $900.00 taxes 243.00 $657.00
I went through MTI Millis Training school , and I choose per diem you take home more less taxes to Uncle sam But have to diside for your self Country1
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Post by squirrelbait on Jun 5, 2004 2:00:01 GMT -5
I'll also add that you have a CHOICE, they don't push either pay package.
We had guys go both ways in my class.
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Post by skullitor on Jun 25, 2004 11:06:46 GMT -5
Hey Pel, What are YOU gonna choose?
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Post by Pelicn on Jun 25, 2004 15:36:20 GMT -5
Per-Diem is up to 41.00 a day now and I think you can claim 70% of that this year. (don't quote me here)
We chose straight pay for these reasons:
With Per-Diem pay, there is the off chance that you haven't been out long enough (by logs) and we didn't want to have to pay at the end of the year.
With Per-Diem pay, your gross income is less, so qualifying for a loan is based on that lower amount.
With Per-Diem pay, less is taken for Social Security/Medicare (I'm not getting into the "SS/Med won't be around when "WE" retire, so why pay in?) The company has to match that "smaller" number so it benefits them greatly when they don't have to pay it.
I think each driver has to choose according to their own situation.
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Post by skullitor on Jun 29, 2004 16:32:05 GMT -5
Is Per Diem Pay harder to figure out on your state & federal taxes at the end of the year?Does it complacate it? Skull
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Post by Cougar on Aug 9, 2004 13:42:39 GMT -5
skullitor No! The $41.00 per day, per diem amount is the set amount allowed by the IRS. This year the deduction percentage is 70% of the $41.00 which = $28.70 [ The IRS figures that you would have to eat if you were home, so you get part of it.] However next year the percentage rate increases and by (I believe) 2006 you get the full $41.00 deduction. You can take the standard 70% of $41.00 ($28.70) WITHOUT Receipts! at the end of the year. The problem is: if the company is paying you the Per Diem , they get the tax deduction, not you. And if you don't get the miles to make up the full amount of the per diem per week, you lose again. And then, of course the company does not paid the full amount into social security, if you pay less, they pay less. [ THE COMPANY IS REQUIRED TO MATCH THE AMOUNT THAT YOU PAY INTO SOCIAL SECURITY] if you pay less now, you will draw less at retirement, and/or if you are Disabled during your career. And my friend, you will get there quicker then you think!! Hell! .....I was 26 a few days ago, but woke up this morning 46 .......WHAT HAPPENED? ? I can't remember how it happened.
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