Minimum amount of cash in the bank to start O/O

Good luck bud.

 

Great Luck Bud

 

If I run under my own Authority, the numbers and pay will be a Lil better

 

If they are driving on a 1099 for 42cpm they are morons. Swift pays more than that for an OTR driver...

 

No sensible driver works on a 1099 for 45 cents a mile. That's cheap. They'd be better off working for less cpm with benefits although many companies pay that or more with benefits. You'll be scraping the bottom of the barrel. You have nothing to offer a driver. Ad hoc random freight has no appeal for a company driver. Wait until something goes wrong with a load and you realize your driver is a problem maker instead of a solver. You need someone that thinks like business behind the wheel (yourself) not some whiney driver.

 

From my own experience, a former 1099 fool, this 42 c a mile is offset by ability to run unlimited paper log miles, which by sacrificing your sleep time, health, and common sense, can amount to a large 150 - 200k a year number. No Swifts or Schneider can give that. The amount of cash these folks are given on hand is appealing enough not to worry about the benefits or even, which is more staggering, what happens if they get badly injured and disabled. These 1099 outfits, although not all of them bad, some are real punks not to give you occupational coverage. I know a guy who died in a truck, and his 1099 contract provider (not to say an employer), not only did not insure him, but refused to pay for the funeral, and just said, "I paid him good, he should've gotten himself a coverage". The other delusion which these guys are falling for is that they can pay less taxes then regular w-2 folks. They just think, that they can write off things they pay cash for ( cat scale, repairs, lumper receipts) copy them for their tax accountant, and still get reimbursed by their 1099 employer. They don't care about their SS tax and benefits until they get old and realize that they are eligible for ####. They hope that IRS is a bunch of fools.
I am not judging the ethics of paying or being paid on 1099, but most of the time it is only to the benefit of the employer.