Are there any 1099 company drivers here?

Surprised & good to see you have had extremely rare decent experience. You are definately a rare story.

You've only been there 5mos, but definately consider finding a trucking accountant. Will likely be well worth it.

Darn near every expense is going to be deductible.

Lease payment, insurance, fuel, maintenance, per diem, device charges (ELD/prepass/tolls), permits/taxes, scale tickets, parking, showers, laundry, truck supplies, cell phone, office supplies, work clothes, tools, % for home office if dedicated room/space, storage rental......etc, etc, etc.

Most likely will exceed standard deduction.

Also, will get hit with penalties if not paying quartly taxes, if waiting till end of the year.

Wish you luck with all.

 

Keep an eye out over your shoulder, just in case......eh? LOL

 

They're shady and so are you because you both know you're being misclassified for tax purposes. It's only a matter of time before you screw each other over.

 

Possibly. Be careful with 1099 topic around here. Some geezers will label you anti American and might even call fbi on you for the simple fact that you can deduct work related expenses.

 

You're not going to get near the standard deduction anyway since you don't own the truck. You can't write off depreciation, tires, maintenance, or any of the big ticket items which an actual owner operator running 1099 would be able to. If you don't own the tools of the trade you're not 1099.

 

Of course they 'like' you!

You are smiling while they stick you with the expense of paying 100% of social security, saving them 50% of that plus all the 'expenses' they are pocketing at your expense at tax time.

You are exactly the type of driver they want!

 

It's not that we're terrified of making money or something it's the IRS that were terrified of. We don't want to commit tax fraud.

 

I can’t give you advice here because there’s actually people in here who love giving their money away to Uncle Sam. But, ask your Russian company for a tax guy and tax advice and they’ll help you