$1500 wk on 1099, good pay? I need money bad.

These forums are full of wailing and gnashing of teeth to be paraphrasing from people who leased.

If you are on fire and you wish to be in business, buy and own your own truck or trucks. Be a company.

There are normal W2 employee work in trucking where 1500 and beyond is possible each week.

 

No, they did not understand what they were getting into and the very real tax issues they stepped in. This is nothing to mess with, especially if you do not understand the tax code and how a 1099 works, and or the implications. Most guys get a check, they have no clue what goes on behind the scenes and their real pay when all is figured in. That matching thing, most folks do not have a clue how much it really costs the employer to employ them.

 

You will also have to pay 15% for fica..

 

I'll take a stab, say $6000 in trouble.

 

Then walk away.

The IRS will absolutely track every penny. And they will tax it on quarterly. If you think you can fight the IRS while facing potential freezing of your assets, frozen bank accounts and potential seizures of your property, homes and whatever... go for it.

I suggest you walk away from this outfit. If you are going to own a truck, do it whole. That way you keep it all and "Cheerfully" pay all the necessary taxes and costs. There has to be other employers in this industry for which you will do well as a employee making 1500 weekly without the burden of accounting to IRS and god only knows who else.

Your love or desire to use a figure of speech for that 1500 must be motivated by something eating at you. I don't know what that something is, if it is normal costs of billing, feeding a family etc you should not allow the emotional ... power to force you towards something you don't see clearly. Follow me?

 

I'll keep that 1000 dollars with taxes withheld. Its my 1000.

I could keep that 1500. But in three months time you must remit all of the required withholding. If you spend it all... there you are stuck. And still liable for that amount against the income you spent.

 

you'll be lucky if you end up with $1100 after taxes on 1099 also