I appreciate everyone’s response and assistance. I’m new to this after being a deputy sheriff for 13 years so I’m still learning the industry. Apparently I’m learning the hard way!
Flatbed percentage pay
Discussion in 'Questions From New Drivers' started by Fryedaddy, Jun 23, 2019.
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Lepton1, Intothesunset and D.Tibbitt Thank this.
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For future reference.
Only lease or owner operators get paid on a 1099.
Employees have W4, I9 on file and get a W2 every year.
If you are currently being paid via a 1099 contract, you are responsible for all taxes owed on that income.
City, county, state and federal. In some places that can be as much as 55 percent.
That said, during you time at this company, you need to start getting and keeping copies of receipts. Also set aside about 10 to 12 percent of your gross weekly pay for quarterly taxes. This industry gets a close eye from the IRS.Lepton1 and Intothesunset Thank this. -
Lepton1 and Intothesunset Thank this.
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Hmmm, Im reading this and wondering about what I am going to do. Im going to work for an O/O next week and this is how he is going to pay me.
Weekly permits/occupational insurance = $700, we split 50/50 taken off the top of what the truck makes
Fuel = We split 50/50 taken off what the truck makes
What ever is left over = We split 50/50
1099 to my business and I will keep copies of ALL receipts for everything.
So truck gross = 10k for the week, weekly bs = 700, fuel = 1500 (guess) truck net = 7800 split 50/50, my share would be 3900. These arent factual numbers, just example.
What do yall think about that set up? -
Never heard of a company being forced to pay for fuel.
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If I did this to my drivers, I would be a billionaire. What a pos owner.Lepton1 and FlaSwampRat Thank this. -
@Ridgeline why do you say that? He is paying the truck payment, insurance, and all maintenance and any other incidentals. He is paying half of the stuff the company he is leased to requires all drivers to have like my occupational insurance. As far as half the fuel, its incentive to not get out there and be retarded with the throttle and idling the truck constantly so Im fine with that.
So how/what do you pay your drivers? What are they averaging miles per week? -
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My drivers work on the base split 60/40, where the one who pays for fuel gets the 60%. I have maybe a dozen drivers who take the 60% and they get 100% of any fsc.
This is a base, some make a lot more percentage because they bring more to the company than just driving skills.
They are also under a tight contract that has been through the IRS/DoL audits a few times, they are paid as 1099. BUT then they also have to pick their own loads and manage the truck. The only drivers who are told what to do are those who are on dedicated work or are the floaters who help out when a driver is sick or on vacation.
99% of them make really good money, they don't think in terms of miles but revenue per load going forward.
Your situation as you spelled it out is making you a leaser, not an employer and I am betting there is no contract or if there is one, it is a boiler plate cobbled together one.Lepton1, FlaSwampRat and WinchBarHero Thank this.
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