$1500 wk on 1099, good pay? I need money bad.

I guess you have never dealt with the irs. They have this thing called a penalty, and a thing called interest. The interest plus penalty doubles what you owe the irs for back taxes. And they will go back every year you were paid as 1099.

So go ahead and do your 1099 and let us know in 5 or 10 years how it works for you.

I really don’t care how you get paid, but you asked about it and people have answered.

I’m guessing this thread is about dead anyway.

 

The 1099 truck driver scam is not legal for the employer.
But the employee can stay out of trouble if they declare the exact number on there tax form
and pay the taxes that are owed. The employee should pay quarterly but the first year penalty
for not is not a real killer. The bigger problem is borrowing money to pay last years taxes
while saving to pay this years taxes.
The real deal breaker is working without workers comp coverage. If the employee ever gets
hurt they have to pay for it out of pocket while not working and having any way to make money.
Everybody thinks they'll never get hurt but the odds are you will get hurt sometime in your working career.

 

I think ed the nail on the head....
I was assuming you might not pay your taxes on 1099.
That was my mistake. If you do, then you should not have a problem.

1099 is a fraudulent practice the irs looks at, whether it is intentential or lack of knowledge, the irs does not care.

W2 fraud seems to be less prevalent, and would of course have the same penalties as 1099 fraud.

I have worked with irs audits of payroll and independent contractors for the past 30 years. If you have the irs camped out with your company headquarters for a year, you learn a few things.

If I seem biased against 1099 arrangements, it is only because of my experience with the irs.

 

If you on 1099 then you on hook of paying all the taxes and fees the ones who treat you as a employee, so the unemployment, s.s tax, state taxes and with this country you might be on the hook for the owners taxes.,on profit

 

if they paid you as an employee instead of independent contractor you would be making about $55,000.
Can/will you file quarterly taxes and send uncle sam 20-25% of that $1500/wk? If not you will owe a lot of money come april 15th. And if you don't estimate your tax liability and pay it in quarterly, they will add a penalty to it in April.

 

Believe it or not paying taxes is a good thing it actually means your making some money and the greedy government just want to get their paws on it. $1500 per week alot of folks would be happy with that kind of dough.

 

Probably after taxes and fees that they are charged it will be less than $900. a week and all the write offs that could be used are leaving so being a real company driver that gets benefits will be better in long run..until. the next change of the clowns.