Do carriers pay you as individual or LLC?

This is something I'm not well versed with. But, have heard this and it makes sense. An example is, with an LLC, it is the LLC that gets paid, then the LLC, in turn pays you. Since you control the LLC this means you pay yourself. You can shield alot of your income that way. But, the downside is that then your personal income will be significantly lower and it'll reduce your ability to get a loan or similar (like getting a new truck), as it ends up looking like you earn alot less income than you actually do. I read that on here somewhere, so unsure how true it is, but it seems to make sense to me.
Since I'm a company driver, I'm not really the best person to ask for on specifics.
Hopefully someone else, with better firsthand experience will come along and expand on it all a bit.

 

your company name = your corporate name

 

Many people feel that if you are driving the truck then an LLC is a waste of money. You can still be sued and they can go after your personal assets.

For accounting purposes LLC means nothing. You are either a Sole Proprietor or an S Corp for payroll and tax purposes.

 

n
When the state of NJ tried to go after the first carrier they felt was 'mis-classifying' independents the focused on the indviduals and LLC's but ignored the individual 'S' corps. Most of our port guys are LLC's but will change to 'S' corps if the state wins in court.