Employee vs. Independent Contractor

I don't think you can be an independent contractor unless you own or lease the rig.

 

Even with that it is getting harder to prove that you are an IC, the Gov. argument as I read it is that let's say you own your truck and trailer but are leased to a carrier.

IF that carrier supplies you with plates,or authority,or pays your insurance they see that as precluding you from working for anyone else, hence you are an employee.

This is only MY take on it as there are a lot of variables, there are also a lot of ongoing court battles over it. My fleet used to be IC, we changed over to all employee's at the urging of my tax attorney.

 

I find it better to be a contractor. When I was an employee I was paying close to 40% tax on the money I made. Now I told my company I want to contact myself to them and still drive their truck. They allowed it and now I'm down into the 18% range +++ I get to write off so many more expenses!

 

IF that carrier supplies you with plates,or authority,or pays your insurance they see that as precluding you from working for anyone else, hence you are an employee.

I will run that by my tax pro but if true; I can think of a lot of carriers that are in big trouble..........