Paying Taxes on "Percent of Load" (1099 gig)

Discussion in 'Trucker Taxes and Truck Financing' started by Makeajump, May 27, 2019.

  1. Makeajump

    Makeajump Medium Load Member

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    Some agency like the IRS should put a stop to these companies doing this. They are employing people without abiding by the laws regarding workman’s comp etc. I guess as long as there’s people who will work as a “1099 employee “ these guys will keep doing it. I think there was a court case recently that hung someone out to dry who was running “1099 employees “
     
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  3. ZVar

    ZVar Road Train Member

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    There's been a lot. Problem is it's like whack-a-mole. Hit one and 3 more pop up.
    But they tend to just go after the companies. If they would go after the "employee" then fewer would be willing to break the law by doing a 1099.
     
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  4. Tombstone69

    Tombstone69 Road Train Member

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    You might as well try to pick up all the illegals, it's never going to happen.
     
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  5. lilillill

    lilillill Sarcasm... it's not just for breakfast

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    I'm self employed and own my own truck. Federal, state and self-employment taxes worked out to about 29% last year.
     
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  6. JonJon78

    JonJon78 Road Train Member

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    I could only imagine how much better the rates out here would be if they got rid of all those scummy 1099 companies...

    So many of them though I dont think we will ever see that day.
     
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  7. LDLWells

    LDLWells Heavy Load Member

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    Stop spreading this lie. It's percentage of gross. Sorry you had a bad experience
     
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  8. Tombstone69

    Tombstone69 Road Train Member

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    I've been around a long time and unless you can see original BOL's,you're getting scammed.
     
  9. kemosabi49

    kemosabi49 Trucker Forum STAFF Staff Member

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    If you don't run for people you can trust it doesn't matter how you get paid. I've ran % for years and it paid off of the gross linehaul. Excluding fuel surcharge.
     
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  10. SoCalRed

    SoCalRed Medium Load Member

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    Running % on 1099 and as an employee are totally different.
    On 1099 you are responsible for state and federal taxes, the full amount of social security (employers cover part of it), workers comp.
    you’ll have no company 401k match, no insurance of any kind, no vacation or holiday pay and you are pretty much still a company employee.
    So what’s the upside to you? Non, but a fancy title “independent contractor” without any independence.
    What’s the upside for the company? No taxes on the money they pay you, no workers comp, no benefits of any kind.
    When will people learn.
     
  11. Ridgeline

    Ridgeline Road Train Member

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    Kind of wondering about this, I mentioned that putting away a third of the gross as a good idea but others bashed me for it .... my accountant affirmed that number 1/3rd is needed just in case,
     
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