1099 as a company driver.

I didn't want to say it because of the flack, but you are 100% correct.

 

" If you did not pay enough tax throughout the year, either through withholding or by making estimated tax payments, you may have to pay a penalty for underpayment of estimated tax. Generally, most taxpayers will avoid this penalty if they either owe less than $1,000 in tax after subtracting their withholding and estimated tax payments, or if they paid at least 90% of the tax for the current year or 100% of the tax shown on the return for the prior year, whichever is smaller."

https://www.irs.gov/taxtopics/tc306.html

 

I am getting in touch with ATBS and let them guide me through.

 

i turned down the 1099 job. i am still with ATBS but i am going to go where my butt will be covered. plain and simple. i can still learn how to do the taxes while the company is paying them. no point in risking it. and i did not get an ICA, just a generic application.

 

From my understanding 1099's are only for contractors and W4s are for company employees. It makes sense to get a 1099 if you are leasing to a company.

 

You got it!

 

Then there is the guy who wants to run in my truck on a 1099 until he retires. I guess he's already made his retirement money and for whatever reason, wants to do it this way. It's not so bad if the owner of the truck is working out good paying loads that makes the driver more than happy. It's not for everyone, but it can be a viable alternative with the right kind of honest truck owner giving you the keys to a good truck with good paying loads.