I may be working for a bad carrier?
Discussion in 'Report A BAD Trucking Company Here' started by Oldironfan, Sep 5, 2018.
Page 11 of 15
-
-
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
-
Given the yearly gross given every quarter a driver would need to pay an estimated tax of $8000 in combined income and self employment tax.
To earn that gross a driver would also need to run 150,000 miles per year. Who the hell wants to drive that much? Good grief I complain about the 90k I run now.Oldironfan Thanks this. -
Oldironfan and 06driver Thank this.
-
estimated quarterly tax payments for each quarter, simply adds together her income tax and her self-employment tax for the year and divides this number by four. Not by 4000 just 4
Oldironfan Thanks this. -
-
Oldironfan Thanks this.
-
Most genuine company drivers have the taxes taken out by the employer(SSI,FICA,plus applicable other federal,state and/or local taxes),plus offer medical,dental,vision,401K,etc.(if applicable,depending on the company).Lonesome, Express12$ and Oldironfan Thank this. -
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.Lonesome, Express12$, Oldironfan and 1 other person Thank this. -
If your 1099 you can be running as a (sole proprietor) you don't need comp to be legal.
I did not file taxes for last year. I think I will owe in about $3000 when I was on 1099 for 4 months.Express12$ Thanks this. -
Oldironfan Thanks this.
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
Page 11 of 15