Opening up a trucking company. Limited experience. What could go wrong?

In my opinion if your drivers average 2800 miles, you ll be golden to your employees.

 

I just want to do what's right and be fair if my truck is still turning a profit and I can pay my guys at $0.50 per mile I have no problem doing it it's just determining rather I w2 or 1099 them

 

Its a decision you need to make. 1099 50cpm is good. 43cpm w2 is above industry median.

 

Thanks for your advice ,so now I shouldn't feel so bad about the thought of a 1099 , because of the pay rate correct?

 

But if I W2 them at 43cpm, it would only be like $860 gross based on 2000 miles, minus roughly (860-14%=860-120.40= $739.60, which is much less than
50cpm ×2000= $1000 minus (14%) or 140= 860

 

You got this all wrong. If you hire them on w2, you pay %14 to the irs as payroll tax. Pm me your number, i ll explain it to you.

 

Which carrier are you thinking of leasing onto?

What is the split?

Are you going to be dispatching your own truck or is the trucking company you're leasing onto providing the freight?

How much revenue is the truck projected to generate per week?