my hubby and brother are looking into working for a small company that run under 1099, i read it's best they get an EIN number, should they each get separate or joint ein number, and can they go ahead and create a company name for the ein number? what is the right way to go about? they are planing to be owner operators one day..any advice will be appreciated, Thanks in advance.
EIN FOR TEAM DRIVERS
Discussion in 'Questions From New Drivers' started by rookie truckers wife, Oct 20, 2017.
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Maybe @Ridgeline can help.
They should join www.OOIDA.com since they plan to become 0/0's someday. This is a business website for the owner-operator. -
ok will look into that, thank you.
Chinatown Thanks this. -
The right way to do it is to work for a company that pays their employees as employees instead of trying to defraud the employees and government by treating employees as contractors.
Unless they really are contractors in which case they should have professional business advice.dngrous_dime Thanks this. -
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EIN is issued by the IRS. I'm pretty sure one EIN to any individual person. No sharing. But ask the IRS. You can do it over the phone. Good luck. If paid by 1099 (which is legal) allow for taxs due in April since your pay will not have taxes deducted.
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I would consider doing an LLC for the partnership, set down the rules and run everything under one entity. I only recommend this because of the situation of moving into a O/O team operation. The carrier should be good with this, and you can pay yourself legal like without fear of having a BIG tax bill at the end of the year. Also there are a few advantage to this that someone else can chime in with that will lower your tax liability.
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