Explain what this pay discription means

it means if the load pays $3500, you will get $1225. Sounds like the guy want you to drive his truck (company driver) but call you an IC so that he doesn't have to pay taxes. Not a safe place to be with Tax-cheat Timmy trying to crack down on tax cheats.

 

Its basicly that he pays % of load some guys pay 25 % others pay 28 % so 35% is good just that if he would pay the taxes, cause if he doesnt you have to save each quarter to pay it yourself.

 

35% is higher than the norm, so I would guess that the truck is leased on somewhere and the truck gets around 75% of load pay. You would get 35% of 75%, or about 26% of the actual load pay.

I say this because they don't advertise it as percent of load pay, just percent of what "truck makes".

 

Independent contractor means no benefits and you pay your own taxes and social security. 35% of what the load pays is 35% of what he gets paid. How will you know what he gets paid for the load? What is the rate? Get it all in writing up front or walk away is my advice.

 

It means bend over and grab your ankles,....And don't expect a courtesy reach around,.........

 

Saw similar ad on Craigslist.

"Owner operator with less than desirable driving record seeks a driver with good driving record to drive his truck. He will pay you 35% of load"

Is this the same ad and if so where did you read it...city, state. A lot of ad and replies, just sold a car on there, are nothing but scams to get your email address to send spam. I had to set up a temporary Yahoo email when I sold the car just to reply to some that had inquired and half of those sent me a message asking if I "still needed help"

Just be cautious about what you reply to as with anything. As the old saying goes if it sounds too good to be true...........

 

run away, %hauls are just asking to get screwed,you will be cheated and the tax man on yer butt!

 

Yeah, you're better off with mileage pay in that situation.
At least you know exactly what you'll get paid.
% varies depending on the rates being pulled for.
And I doubt you'll have much ability to turn down loads.

The whole 1099 thing is something to avoid.
Lots of potential problems with the IRS there.
If I drove for someone, I would stick with .cpm, W-2's, getting a decent medical/dental plan, plus 401k.

With these O/O's you never know if they'll be around in another month or year or two.
So the guy could go bellyup and owe you a king's ransom in backpay.
Since there's no assets besides a truck (and who knows how much equity there), you'll be stuck holding the bag.

I would RUN from a deal like this.