Have an interview with a 1099 company tomorrow: what should I be aware of?

You need to pay your taxes quarterly. 30% of your money needs to go to savings for taxes right off the top. If you decide to work for them keep this in mind.

 

They pay extra for insurance, you pay extra in taxes. You guys even out. You get experience and move to w2 company or stay if you are happy and make good money even after paying extra taxes

 

Yes besides the taxes which will not be taken out you are responsible for the full 14% FICA. Normally as an employee you pay 7% and your employer pays 7%.

 

Worst case you get taken to the cleaners. If the carrier folds in the night as an employee you have some (albeit small) protection. As 1099, no (or reduced) unemployment, no workers comp, etc.

I'm not saying 1099 is all bad, but you better be getting paid significantly more than a W2 company to make the risk worth it.

If you are driving equipment provided by a company, that you in no way "own" and are on forced dispatch then you should be an employee. If they're willing to skirt the law on this, which other laws are the willing to play games with? "Missing a brake chamber? It'll be fine you've got three others." Comes to mind.

 

You might be sayn'....... "hey boss, i dont have the hours to do 800 miles today" .......Boss: "make it happen boy"

 

They will offer you no health insurance, no workman's comp, no disibility, no unemployment........

 

Run away......

 

Make stop at a few fast food joints and grad some applications, there is more safety and security than all of those compared to any 1099 rip off. Either go be a company driver, or a real O/O, or don't be anything.. how many of these scams are there out there these days?

 

If you work 1099 ... which by the way, DON'T. Make sure you have your own health insurance (that covers accidents while you are working), some kind of short and long term disability, and a dedicated savings account for your taxes. Weekly pay would be best, but do not go over two weeks ... would be really ####ty to be out a months pay. If it is not a good 40% pay increase over working for a mega ... there is no benefit to being a 1099 employee unless you are hiding from child support, the government, or have such a horrible record only a ####ty EMPLOYER, that is violating the law by paying an EMPLOYEE as an independent contractor, is the only option you have left.

1099 = employee getting the shaft, unless there are extenuating circumstances ... then you are getting the shaft because you have no choice.