I may be working for a bad carrier?

Well that’s different then.
$3500x4=$14,000 a year

 

Given the yearly gross given every quarter a driver would need to pay an estimated tax of $8000 in combined income and self employment tax.

To earn that gross a driver would also need to run 150,000 miles per year. Who the hell wants to drive that much? Good grief I complain about the 90k I run now.

 

The only people I know that run that hard literally live in their trucks or do heavy haul(and even those folks have a social life).

 

estimated quarterly tax payments for each quarter, simply adds together her income tax and her self-employment tax for the year and divides this number by four. Not by 4000 just 4

 

1= driver × company + IRS ÷4=1

 

Yeah,right.
Most genuine company drivers have the taxes taken out by the employer(SSI,FICA,plus applicable other federal,state and/or local taxes),plus offer medical,dental,vision,401K,etc.(if applicable,depending on the company).

 

Other things to consider. Pretty sure Illinoos has a law on the books about maintaining workmans compensation insurance. Even if you are the only workman because transportation falls under "dangerous" jobs. Dont care enough to research the laws. And no dont post what some cousins brothers lawyers put on his blog.

Look in the code. Or don't, it is your responsibility to know those laws.

Further if the company incorrectly paying 1099 does not require it of the "contractor" (employee) they are leaving themselves open to a huge liability lawsuit.

Last I looked wci was 2.35% of gross wages.

 

Yes insurance is not a requirement and but this company actually pay for workers comp zero cost to driver. And if companies Missqualified driver it's their problem not mine