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CATEGORY 4 - DRIVER'S PAYROLL & BENEFITS
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TRUCKERSCOST UNIVERSITY
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Driver's Payroll Expense and Payroll Tax Expense Example
Driver's Benefits
Driver's Benefits - Company provided incentives other than wages. Examples include health insurance and retirement contributions.
What expenses do you have with driver's payroll & benefits?
- DRIVER'S PAYROLL EXPENSE
- PAYROLL TAX EXPENSE
- INSURANCE - WORKERS COMPENSATION
- DRIVER'S HEALTH INSURANCE
- RETIREMENT
What Types of Cost Are These?
If you want to learn more about the above expenses, visit Truckerscost University on this page.
IMPORTANT
FOR OWNER OPERATORS
As the owner and driver, you started your business with the intention of making money. Although you may not cut yourself a paycheck, you must factor in a MINIMUM expected pay for your work.
Remember as the owner you keep all profits. You want to include a minimum gross payroll amount (paid or not) in determining your Cost Per Mile or Cost Per Hour.
YOU DO NOT WANT TO CALCULATE A COST PER MILE OR COST PER HOUR THAT DOES NOT INCLUDE DRIVER PAY!!!