Paying Taxes on "Percent of Load" (1099 gig)

There's been a lot. Problem is it's like whack-a-mole. Hit one and 3 more pop up.
But they tend to just go after the companies. If they would go after the "employee" then fewer would be willing to break the law by doing a 1099.

 

You might as well try to pick up all the illegals, it's never going to happen.

 

I'm self employed and own my own truck. Federal, state and self-employment taxes worked out to about 29% last year.

 

I could only imagine how much better the rates out here would be if they got rid of all those scummy 1099 companies...

So many of them though I dont think we will ever see that day.

 

Stop spreading this lie. It's percentage of gross. Sorry you had a bad experience

 

I've been around a long time and unless you can see original BOL's,you're getting scammed.

 

Running % on 1099 and as an employee are totally different.
On 1099 you are responsible for state and federal taxes, the full amount of social security (employers cover part of it), workers comp.
you’ll have no company 401k match, no insurance of any kind, no vacation or holiday pay and you are pretty much still a company employee.
So what’s the upside to you? Non, but a fancy title “independent contractor” without any independence.
What’s the upside for the company? No taxes on the money they pay you, no workers comp, no benefits of any kind.
When will people learn.

 

Kind of wondering about this, I mentioned that putting away a third of the gross as a good idea but others bashed me for it .... my accountant affirmed that number 1/3rd is needed just in case,