Incorporation??

When I was at Pacer Cartage, now XPO, they implemented that policy as a condition to continue to be contracted there. I think it was because of the misclassifaction lawsuit in California. The contractor can't be an employee if he or she is a corporation.

 

I'd find somewhere else to lease onto. Incorporating for a one truck owner operator is more of a burden than an asset.

 

Get an S-Corp. It IS the way to go. Will help you on taxes as well. Just do it and don't look back.

 

I think op is from Canada. I incorporated for my one truck company and for me it is easier to separate business and personal money. Also easier to control income and tax paid.

Which company are you trying to lease to op, if you don't mind saying.

 

If the single o/os on this board are making what they claim they're making, its more than worth the burden.

 

You can incorporate yourself or pay someone to do it for you its not that difficult .... You do have to pay to keep the corporation active yearly plus file taxes for the corp

 

And s-Corp is a type of corporation ....there are c-Corp ,s-Corp ,LLC and a few others ..... S-Corp lets you pass down your taxes so that you are not paying twice ...... I would talk to a CPA if you use one if you don't you are going to need one if your going to establish a corporation