Company charging me insurance deposit

Discussion in 'Ask An Owner Operator' started by thankgod3030, Feb 7, 2021.

  1. Dino soar

    Dino soar Road Train Member

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    It may look like it's more money for you but at the end of the year when you pay your taxes you're going to pay more tax than you would with a W-2.

    On the company side they make out like a bandit because they don't have to pay workman's comp they don't have to match your social security or pay unemployment or anything else.

    At the end of the year they just send you a total for how much they paid you and then you have a big bill to pay for the government.

    Easier and cheaper for them, harder and more expensive for you.
     
    God prefers Diesels Thanks this.
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  3. Dino soar

    Dino soar Road Train Member

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    I also wanted to say that when you go to work to become a driver there really is a giant stack of papers that you have to sign.

    It is entirely possible that you signed something that you didn't realize.

    If you are 100% certain you did not sign anything then forget about them. If you're 99% sure then you're going to have to at least ask them to send you whatever documentation they have and the bill and why you owe them that money.

    And you will have to go from there.

    You're probably going to be mad at me too but I don't see why you're angry at any of the members here. They're giving you good advice.

    The 1099 job is always a bad job. It's always a worse job than a W-2 job. If you have a separate business that you run or something like that maybe you can get by on that for a while but overall it gives your employer a lot of room to cheat and to not take care of you.. the 1099 job is 100% to the benefit of the employer so it's just something to think about for the next job that you go for.

    When you work a W-2 job they take your taxes out and you pay a different tax rate than you do on a 1099. On a W2 job your taxes might, might be 25% . On a 1099 you should put aside at least a full 1/3 of what you make for your taxes.
     
  4. stillwurkin

    stillwurkin Road Train Member

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    Most, if not all of this knowledge is a learning process. Can't add anything except they are trying to bulldog ya. You will be fine.
     
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