I started working for a chicago company five months ago and this is the first time I ever dealt with the 1099 form. Is it even worth looking at the expenses I have as a company driver to itemize on my taxes, instead of just using the standard deduction? Which is around twenty-nine thousand for my wife and I. I do have a few extra expenses but nowhere near the standard deduction, I do not think. But like I said, i have never done this before.
Are there any 1099 company drivers here?
Discussion in 'Trucker Taxes and Truck Financing' started by A Bug, Apr 3, 2025.
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You're not a company driver. You're a contracted driver. Problem is, you don't have anything of significance to write off since you don't own anything essentially. You're going to get raped on your taxes too.
rollin coal, wis bang, Speedy356 and 1 other person Thank this. -
Anyway, you didn’t do your homework…
When you work on a 1099 contract basis, the IRS considers you to be self-employed. That means that in addition to income tax, you'll need to pay self-employment tax. As of 2024, the self-employment tax is 15.3% of the first $168,600 in net profits, plus 2.9% of anything earned over that amount.TurkeyCreekJackJohnson, Oxbow and Sons Hero Thank this. -
Ha I knew I would be getting a reaction like that, but guess there really is no need to look for deductions then, I hate taxes.
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You drive for a company out of the Chicagoland area, they are obviously shady because they are paying you on a 1099, probably run by Eastern Europeans would be my guess
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Ask for an accountant recommendation from your Eastern European friends (seriously), they will help you
A Bug Thanks this. -
Being 1099 instead of w2 is going to cost me nearly 3k more in taxes at the end of 2025, not a huge deal, the extra pay i am getting more than makes up for that. When I say I hate taxes, I mean more in dealing with them. I worked w2 for all my life and never bothered to take advantage of any of the company benefits or other stuff that comes with w2 pay, so it works for me. -
As for the shady part... If you don't screw around, they will love you and you will never be seeing Igor coming to break your legs, let's just put it that way.18WheelerHustle, Sons Hero, bryan21384 and 6 others Thank this.
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