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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  3. rookie truckers wife

    rookie truckers wife Bobtail Member

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    Sep 18, 2017
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    hey Ridgeline, yap i did look online getting an LLC then get the EINs after, what did you mean "run everything under one entity"? will that be under partnership or? thanks for the advice , i truly appreciate.
     
  4. Ridgeline

    Ridgeline Road Train Member

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    Yes partnership with a contract defining the separation of the partnership (buyout, etc. ... ) this will protect both parties if something happens and more or less give them separate tax incentives to lower the tax liabilities - someone else can explain that to you as they posted in one thread the advantages of it with taxes, I don't do LLCs.

    The carrier/company can then cut one settlement check to the LLC, and if it the team/truck is moved to another company, it is a matter of one contract to cover it, not two and no two settlements either.
     
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