Signing with a company as a startup?

Discussion in 'Ask An Owner Operator' started by 13'trucker, Apr 3, 2020.

  1. 13'trucker

    13'trucker Bobtail Member

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    If I am going to be signing with a company as an o/o do I still need an EIN, DOT# and Forming an LLC? I will be owning my equipment but they find the loads.
     
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  3. kemosabi49

    kemosabi49 Trucker Forum STAFF Staff Member

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    You will need an EIN to file and pay the HVUT ($550). No DOT number needed if running under other company's authority. As far as the LLC that you should be discussing with a CPA and let him show you the best way to set up your business.
     
    rachi and 13'trucker Thank this.
  4. Spyro2112

    Spyro2112 Medium Load Member

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    U should think twice about becoming a o o
     
  5. Thetrashnoob

    Thetrashnoob Light Load Member

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    You should elaborate on why. Instead of just saying you should think twice.
    Everyone always says it’s a bad time to become a o o so when is it a good time?
     
    lsnook24 and 13'trucker Thank this.
  6. Spyro2112

    Spyro2112 Medium Load Member

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    Not now,, u not trying to b a smart ##* but if you are asking questions like this u have not done your homework or have enough experience, #1 how much is the company paying what r u hauling, ins, your own or theirs,escrow, get theirs and have your own, can u make better money else where, I make 90% use their numbers, their ins plus mine, for PC or when I'm not dispatched, what's the fuel surcharge, maintenance, taxes, 2290, hut, r u filing quarterly, u should u have enough money to maintain yourself, plus economically speaking rates have dropped, the country is hurting what else
     
  7. Ridgeline

    Ridgeline Road Train Member

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    It is a bad time but to explain it to people who don't even have a clue would take pages of posts to explain all of it.
     
    magoo68 Thanks this.
  8. D.Tibbitt

    D.Tibbitt Road Train Member

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    Take it from somebody who just started 5 months ago. Now is not a good time. It is hard to make money right noe. Wait until this virus stuff blows over. The economy is about to collapse if this stuff lasts much longer and alot of ppl is gonna be out of business. Save yourself the misery and wait it out
     
    clausland Thanks this.
  9. clausland

    clausland Road Train Member

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    Spot on. There are none so blind, as those who will not see...
     
    D.Tibbitt Thanks this.
  10. magoo68

    magoo68 Road Train Member

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    Right now cash is king . So if you have cash keep it until the world knows where it’s going..
     
  11. Atlanta trucker

    Atlanta trucker Road Train Member

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    You should think thrice before becoming an o/o. You should think Quattro ... you should think cinco ... Has very little to do with timing it has to do with most truck drivers are just that , truck drivers not business people thus they fail. Then they say the company ripped them off.
     
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