Back to the same old 1099 Vs. W-2 discussion.

They want you to pay for it? Tell them to put you on a W-2 and pay the comp,umc,fica,medicare,fut themselves. They want to call you an independent contractor then you should be able to go from FL to CA via WA.(if time permits) Work only when you want to,not when they want you to. See how "independent" you really are.

 

It's not Comp. Comp in FL runs 18% of wages or so for a truck driver. 1099 means you pay all of your own taxes including self employment, and aren't privy to unemployment or any of the benefits of being an employee..

 

This company I'm talking about is 50 trucks or so and out of Chicago. Really seemed legit and honest up front and I was as well. What's right way to handle this if I decide to do it? Set aside tax money for end of year? How much would be smart? Any advice cause I'm clueless on how this works.

 

Is be super leary about any company from the Chicago area, especially if they are Eastern European. But yes, if you decide to do it, get a separate account and put 25% of your pay in it for taxes every week. You'll most likely not hit the threshold for quarterly payments, so just pay when you file your taxes.

 

Thanks. Slowly working with this guy. Not just jumping as I'm not desperate by any means or in a hurry.

 

GITRDUN45 Be very careful, remember they may leave you stranded in the middle of the desert, you need to talk a lot to these guys, remember you talking about the L/O that I was looking at? My advice back to you is all of that and more, If it sounds to good to be true!!! Yep it is!. Be careful of thee foreign guys they think differently then us Red White and Blue boys as far as what is fair!. Just trying to keep your ##### out of trouble!.

 

Didn't sound any like Middle Eastern. But I not for sure yet but I need to stick with my plans. I'm almost there. Just anxious. Thanks LTT

 

If you do decide to go on the 1099 then pay the quarterly estimated taxes. It will make filing taxes at the end of the year a whole lot easier. Most people that just try and set aside some for the end of the year end up with not enough to pay. Because they either didn't set enough aside or they dipped into what they saved for one or more emergency. By paying quarterly the money can't be touched by you for other things.

 

Thanks. Those were my thoughts exactly. Never been one to have bills hanging over my head. Like paying them off ASAP.