EIN FOR TEAM DRIVERS

Discussion in 'Questions From New Drivers' started by rookie truckers wife, Oct 20, 2017.

  1. rookie truckers wife

    rookie truckers wife Bobtail Member

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    my hubby and brother are looking into working for a small company that run under 1099, i read it's best they get an EIN number, should they each get separate or joint ein number, and can they go ahead and create a company name for the ein number? what is the right way to go about? they are planing to be owner operators one day..any advice will be appreciated, Thanks in advance.
     
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  3. Chinatown

    Chinatown Road Train Member

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    Maybe @Ridgeline can help.
    They should join www.OOIDA.com since they plan to become 0/0's someday. This is a business website for the owner-operator.
     
  4. rookie truckers wife

    rookie truckers wife Bobtail Member

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    ok will look into that, thank you.
     
    Chinatown Thanks this.
  5. ChaoSS

    ChaoSS Road Train Member

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    The right way to do it is to work for a company that pays their employees as employees instead of trying to defraud the employees and government by treating employees as contractors.

    Unless they really are contractors in which case they should have professional business advice.
     
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  6. rookie truckers wife

    rookie truckers wife Bobtail Member

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    They just finished one year with a large company but are not happy so they quit. After looking around for large companies nothing came close to what they were payed previously, looks like they have to start like they just got out of cdl class. They got an offer from a company which runs under 1099 and will be payed 45% per load as they said. We are just on a saving mode right now lol, they are really hard workers and I know once they get their own truck things will change. thanks though for your reply
     
  7. Allow Me.

    Allow Me. Trucker Forum STAFF Staff Member

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    EIN is issued by the IRS. I'm pretty sure one EIN to any individual person. No sharing. But ask the IRS. You can do it over the phone. Good luck. If paid by 1099 (which is legal) allow for taxs due in April since your pay will not have taxes deducted.
     
  8. ChaoSS

    ChaoSS Road Train Member

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    You better be in saving mode, do you know what your tax liability will look like under the 1099 scam?
     
  9. Ridgeline

    Ridgeline Road Train Member

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    I would consider doing an LLC for the partnership, set down the rules and run everything under one entity. I only recommend this because of the situation of moving into a O/O team operation. The carrier should be good with this, and you can pay yourself legal like without fear of having a BIG tax bill at the end of the year. Also there are a few advantage to this that someone else can chime in with that will lower your tax liability.
     
  10. rookie truckers wife

    rookie truckers wife Bobtail Member

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    Sep 18, 2017
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    yap i checked and yes its ein per person, thank you sir.
     
  11. rookie truckers wife

    rookie truckers wife Bobtail Member

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    lol..i understand they should put money aside for taxes, we still searching for a good small company in Tn that'll pay with W2.
     
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