Never had the tax man come after me for over paying my taxes. When I started my restaurant consulting business back in 2004 (my previous career), I told the IRS when applying for my business TIN, that I hadn't filed a tax return for "several years" as a W-2 employee. They said "Lets take a look.....Looks like we owe you some money if you want to file your last 3 years, but otherwise, we don't care unless you owe us".
But yes, as 1099, set aside money every pay for taxes, you pay 100% of whats owed and pay quarterly. Then you'll know if you'll end up with a liability at the end of the year.
Alcohol Refusal question
Discussion in 'Questions From New Drivers' started by mikewu9900, Jun 26, 2019.
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I am aware of what 1099 is, just was asking why they are different as far as being able to insure me. Would I be taking more of a responsibility if an accident were to occur?COBB2070 Thanks this.
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I'm not sure in that respect. But more likely than not, a small 1099 company will probably be using a "high risk" insurance carrier because of their Safer Score or lack of a longer established record of safe driving. That's just my opinion, not fact.
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If your PSP is crappy your insurance will be high as a driver or rejected. Until you find a carrier I suppose as a company/sole owner etc.
I know nothing about Lease. -
1099 companies are already bending the rules so they might ignore your situation, especially if it was prior to the CDL...their insurance might be more focused on the vehicles; they may have an older fleet that is worth less. Costs more to insure a fleet of brand new $140.000.00 trucks than a bunch of 2005's worth twenty grand each...high price comes with strict rules too
When I went from tankers to port drivers I was amazed at who I could hire compared to the tank yankers. with all that haz mat, etc. -
Oh hell naw! You need to hire a lawyer, that is not legal man.
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