So Ive had a gentleman approach me wanting to drive for him. He is just starting his own fleet, and is offering me 25% of the trucks gross income a week, as well as my input and choice in the truck to buy for me to drive (used truck 2016 or newer). But it would be a 1099 position for me. He has another dispatch group setup with loads, and fuel cards and help in repairs. I also get choice in what loads and where and what days I want to start and time. Ive been driving for some 10 years and all in all it sounds great. My only concern is the 1099, ive never done it. w2 has been the only type if dealt with.
My question is this, what are concerns for someone who has not done 1099 that i should look out for? I realize I have to pay my taxes and need to budget accordingly. can i make money on a 1099? is the hassle worth the money? and roughly what would it be for taxes? (i live in Illinois and have checked up that it would be close to 30%) and what could I write off, if anything for taxes as a 1099? Overall any advice or tips for someone new to 1099?
Questions on a potential job with an Owner Operator
Discussion in 'Ask An Owner Operator' started by EternalTrucker, Oct 18, 2021.
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Dino soar and Midwest Trucker Thank this.
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25% is too low on 1099.
Dino soar and ProfessionalNoticer Thank this. -
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Yes 35 would be fine. As long as he probably makes enough for the truck it would be a great opportunity. Nobody needs unemployment. Just get a job. Too easy. You may have more freedom working this deal and you WILL learn a lot from it. Could be great training for a future O/O.
ProfessionalNoticer Thanks this. -
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and empty trailer will pay you 25% of ZERO....
what if he has no loads for a week, or you only get 2 loads coming back? how you gonna survive on 25% of ZERO..??? -
Pass on it. You get NO benefits at all. No holidays. No detention pay. No sick time. No vacation. You'll pay a minimum of 35 percent of your total earnings. You'll pay all of your social security (w2 employees only pay half). No help from the labor board if he doesn't pay you. No unemployment. No workers comp if you get hurt. You're going to get screwed.
OldeSkool, Dino soar and EternalTrucker Thank this. -
My company benefits are
I pay 43 for bc/bs, dental, vision. About 250 If I pay on my own
Company paid short term and long term disability.
Company paid 30 thousand life
Matching 5% 401k about 4k a year
25% per diem
Last week I paid 83 in social security.
A rough guess is 400 to 500 a week on top of my pay.
35 %of what, how much in dollars -
For the percentage drivers, I start at 40% to the truck gross.
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