I think you will find that you need to gross $50.00 per hour to run a business, make truck & equipment payments, keep enough special business insurance coverage, have a realistic emergency reserve fund, and keep up with the changing costs of your own special medical insurance.  Salary is on top of that.  If you want to apply your salary into the cost of operation, because you have the "dream of being self employed", this can be done.

Simple liability insurance is not enough.  You need to get an education on the terms used in insurance-speak.  Learn about "Explosion Buy Back", Personal Articles Floater, Excess Liability coverage, "Care Custody and Control", "Underground Lines" coverage, "Store Front" coverage, individual workmans compensation, "Inland Marine Coverage", "Professional Liability" "Waiver of Subrogation", "Mitigating Damages", and many more that I haven't heard of.  If you go to work beyond the High Tide mark, you need "Long-shoreman and Harbor Workers protection Act Insurance, which is in addition to the normal Workers Compensation coverage! Insurance involves two types of payments, the initial and recurrent premium and the year end audit adjustment. (Additional premium due that may be based on gross profit, hours worked, Etc.)  Insurance premiums are due whether you have work or not!

Remember, the cost of the welding machine seems like it is large, but the cost of the small tools and their repair and replacement will be far more expensive over the period of a year.  Now you have to buy your own supplies.  You may need a second truck.  You may have to "Tip" the crane operator to help you unload at the site, Etc.!  You need cash reserves to run out and buy a new tool or a new "gadget" to get the job done.  You really do not build a business until you have people working for you.  Then there are additional responsibilities and problems.

Good luck

53 an hr is good money but remember it is snowing in wyoming right now as far as getting a tax id # all you need is a social security card for your income tax unless yopu are a bussinees with employees then you would need a employer tax i.d.# or if you charge tax you will need a state tax i.d. number but if you are not from wyoming i would not worry about the state tax i.d. # as far as the wage there are places that pay higher and others that pay way lower depends on where you go and who you work for hope this helps if your looking into pipelining you might consider getting a bigger machine alot of companies wont even look at you if you dont have at least a lincoln 200 and sum prefer a miller big 40 usually depends on the welding boss

Ive been working on my downhill 6G and I keep getting undercut on my root and I was wondering if I was going too fast or if I was running too hot.

thanks Greg Walker

Pipelines is were its at Local union 798 put me to work ,, gave my kids healthcare no questions asked
and they supply me retirement, My brother got hurt and the union sent him a check for 1000$ just to help out these guys and girls are the family i always looked for and they are the best welders in the world..........

Coming from a welder that chased rigs for 7 years on the western slope, I can tell you this:

Go to wyoming and learn what you can from the outfit that you are referring to, because the wage is not enough to get ahead on. You're basically breaking even on that. BUT, you are learning the oilfield from someone that knows it well. I'm assuming you meant 100 for the perdium.

                                                         ......................................THEN..........................................

Get your own insurance and "chase" rigs, period. hand out cards, and you will go to work. But make darn sure that you know what you're getting into!

You will find out that these rigs don't care that it is 3am on a weekend - they will call you. The hours you put in are crazy, (by definition), and you don't leave the rig site till the job is done. You will be knocked in the head by some inexperienced roughneck, you will be rained on, electrecuted, and doing the backstroke in chemicals and mud, daily. You will be trying to meet deadlines that are impossible, and dealing with one young cocky toolpusher or another on every job. These are the inexperienced, ignorant type that think it is really easy to fab and spark till the light shows on the horizon. They don't care about you or your family, only that you came out and got them drilling again..................

                                                         .......................................SO.................................................

If you want to work till the cows come home, neglect your family, run on your own fuel, and wait 30-90 days to get paid, you could get rich.........lol

by the way, it's 90 an hour now up there in Wyoming, I am there 100 or more days in a year..........do the math.

Sorry Rig, but would you mind help me, due i'm looking for the ASME SEC VIII D1 but i can't find, do you know any free-website to downloand it??