Input Wanted on Small Business

what? I have no clue what you're talking about.

 

ihford350
Please be a lil more detailed. some of us have owned trucks and brokerage, Heck some of us even have owned hot dog carts. If you make money you can still write a bunch off.

 

I think you need to talk to a tax accountant that knows something about LLC and trucking. Maybe google LLC and trucking to get some preliminary education on the subject.

 

No actually It will cost you more

 

What advantages were you thinking there would be? No matter how you look at this you are a company driver, you are by any legal definition an employee. You will be paid as an individual, not a corporation or LLC. You are not running a business in any way, and any attempt to change your classification from employee to self employed contractor might even be perceived as intent to defraud the IRS.

Did someone say there was some reason to do this? I think others would be interested in your reasoning for this line of thought.

As far as cost, in almost all states both LLCs and Corporations have annual reports to file in addition to your annual fees, and corporations often have separate corporate taxes to pay. Requirements vary and you need to know these things for the state where you live.

Expenses incurred as a requirement of your job may be deductible depending on what they are and other factors determined by your individual tax status and financial situation.

 

I would think if you did that, you're more of a 1099 kind of guy than a W-2 guy. I wouldn't mess with changing anything in this instance.

 

A corporation, whether llc or sub s does not and cannot be an employee.