Let me try a different approach. They’re going to pay a hotel for you, so you’ll be overnight for 10 hours minimum. You say you retired out of the industry so you know part of the mantra of the industry is hurry up and wait,
So two 11 hour days, 11hours in the hotel
Is 33 hours and at todays prices 50$ can go pretty quick for food. So 600$/33 hours is 18.18 per hour BEFORE any taxes are taken out. I’ve never paid an employee so I don’t know the exact taxes you’ll be responsible for as 1099 but even just as W-2 you’d be down to ~14-15$ per hour. I’d go get hooked up with a temporary agency and work when you want for a better hourly rate. I don’t know you’re location but 14-15 per hour is pretty low in my area for a guy that’s willing to show up and put an honest days work in. Back of the envelope math to be sure, but maybe it makes more sense this way because that hourly rate is going to drop even more when the IRS comes looking for the share the employer should be taking care of
Class B
Discussion in 'Experienced Truckers' Advice' started by spindrift, Feb 6, 2023.
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Some people may take umbrage at me doing an hourly rate calculation like this. But to put it in perspective I average two nights out a week usually just down for the 10 and 60 to 65 hours recorded on the logs so will call that 85 hours total away from the house. On a week like that my average gross is $2200 and if you do the math that comes out to $25.88 for every hour I’m away from home whether it’s in the sleeper or on duty and the taxes the employer owes are already paid to break it down further by the time my taxes come out I am at roughly $19.92 an hour and the IRS will not be sniffing around my door wanting moreIn fact I generally get a couple dollars back at the end of the year
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Interesting points...
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Not everyone that collects social security retirement pays a penalty. If you already reached full retirement age then there are zero deductions no matter what you earn. It’s also not illegal for a company to use 1099. If you think you know more than a million dollar company with tax attorneys then maybe u missed your calling in lifeRideandrepair and tscottme Thank this.
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As long as there is a contract for the work in place and signed by both parties, no contract, it is illegal and the driver is an employee - no exceptions.Rideandrepair and tscottme Thank this.
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Hmmm...I'm aware of reputable, law-abiding, well-respected organizations who pay on a 1099 without a contract. And these organizations are audited yearly by there accounting firms.Rideandrepair Thanks this.
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How do they do that? How is one an independent contractor without a contract?
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You submit an invoice for services rendered. It's done all the time...rather routine, really.Rideandrepair Thanks this.
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But they are telling you when to work and where to go and you’re using their equipment and they’re paying all expenses. I would buy into your reply if you showed up with your own stuff and worked when you wanted and then submitted an invoice when you completed the task.
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I work when I want and take jobs that are in my best interests and fit my schedule. Jobs rates will be negotiable; new wrinkle.Rideandrepair Thanks this.
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