Questions on a potential job with an Owner Operator

Discussion in 'Ask An Owner Operator' started by EternalTrucker, Oct 18, 2021.

  1. EternalTrucker

    EternalTrucker Bobtail Member

    Sep 6, 2021
    So Ive had a gentleman approach me wanting to drive for him. He is just starting his own fleet, and is offering me 25% of the trucks gross income a week, as well as my input and choice in the truck to buy for me to drive (used truck 2016 or newer). But it would be a 1099 position for me. He has another dispatch group setup with loads, and fuel cards and help in repairs. I also get choice in what loads and where and what days I want to start and time. Ive been driving for some 10 years and all in all it sounds great. My only concern is the 1099, ive never done it. w2 has been the only type if dealt with.

    My question is this, what are concerns for someone who has not done 1099 that i should look out for? I realize I have to pay my taxes and need to budget accordingly. can i make money on a 1099? is the hassle worth the money? and roughly what would it be for taxes? (i live in Illinois and have checked up that it would be close to 30%) and what could I write off, if anything for taxes as a 1099? Overall any advice or tips for someone new to 1099?
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  3. kemosabi49

    kemosabi49 Trucker Forum STAFF Staff Member

    Jan 13, 2013
    SW Arkansas
    You will have to pay the Employee (you) half of your Social Security and also the matching Company (also you) half. You will not be covered under any Workers Comp Insurance unless you buy it and also not be eligible to collect unemployment if you lose your job. @5% is not near enough money to work on a 1099. It is also probably illegal.
    Dino soar and Midwest Trucker Thank this.
  4. Long FLD

    Long FLD Road Train Member

    Mar 4, 2015
    25% is too low on 1099.
    Dino soar and ProfessionalNoticer Thank this.
  5. EternalTrucker

    EternalTrucker Bobtail Member

    Sep 6, 2021
    Really? hmm ok. what % would be 35%?
  6. Short Fuse EOD

    Short Fuse EOD Heavy Load Member

    Jul 29, 2015
    Yes 35 would be fine. As long as he probably makes enough for the truck it would be a great opportunity. Nobody needs unemployment. Just get a job. Too easy. You may have more freedom working this deal and you WILL learn a lot from it. Could be great training for a future O/O.
    ProfessionalNoticer Thanks this.
  7. EternalTrucker

    EternalTrucker Bobtail Member

    Sep 6, 2021
    Im tempted to do it, but will see what he says when I say 35%. however still looking at all the work involved does make me a little hesitant. making sure the quarterly taxes and how much to budget for that and what needs to be paid. Definitely looking at getting a CPA to help. But knowing what to ask for other things is what im in the dark of. Basically I dont know enough to know what I dont know. lol
  8. buddyd157

    buddyd157 Road Train Member

    May 25, 2017
    under a shade tree
    that 25% of a loaded trailer..

    and empty trailer will pay you 25% of ZERO....

    what if he has no loads for a week, or you only get 2 loads coming back? how you gonna survive on 25% of ZERO..???
  9. ProfessionalNoticer

    ProfessionalNoticer Heavy Load Member

    Apr 25, 2021
    Pass on it. You get NO benefits at all. No holidays. No detention pay. No sick time. No vacation. You'll pay a minimum of 35 percent of your total earnings. You'll pay all of your social security (w2 employees only pay half). No help from the labor board if he doesn't pay you. No unemployment. No workers comp if you get hurt. You're going to get screwed.
  10. JoeTruck

    JoeTruck Medium Load Member

    Mar 13, 2015
    LOWER 48
    My company benefits are
    I pay 43 for bc/bs, dental, vision. About 250 If I pay on my own
    Company paid short term and long term disability.
    Company paid 30 thousand life
    Matching 5% 401k about 4k a year
    25% per diem
    Last week I paid 83 in social security.
    A rough guess is 400 to 500 a week on top of my pay.
    35 %of what, how much in dollars
  11. Ridgeline

    Ridgeline Road Train Member

    Dec 18, 2011
    For the percentage drivers, I start at 40% to the truck gross.
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