Year end trouble.

Aren't these questions that they should be asking a qualified CPA?

 

So they want professional accounting/legal advice from a trucking forum...interesting thoughts.

 

Here's what you found out...... notta.

I would even go as far as to say, this is going to be an expensive lesson for them....this year. So much so, there may not be a next year.

 

I would 1099 him and then get him set up as an employee for 2012.

You have to give the business a better structure and seperate business and personal income and expenses.

Is this just a truck and driver or something bigger?

 

Call ATBS they do my taxes. Mine were all in bad shape the first yr. as i knew nothing about trucking. It was the best decision I've made in trucking. Just google the numb

 

???????

http://www.atbs.org/

 

No disrespect here, Alex, but here's what you/they/she need to do:

1) Call the IRS and ask your questions. This won't cost anything.

2) Find an accountant who understands the trucking business and ask your questions. This will cost $$, but you/they/she can write it off. Clearly, you/they/she don't understand what you/they/she are doing (again, no disrespect). You/they/she have painted yourselves/themselves into a corner and you'll/they'll need professional help getting out.

3) Learn what is involved in running a business -- it's easier than winging it. Are you/they/she even keeping records?

Do you/they/she have a TIN, all required licenses and permits, and all required insurance policies?

If she's paying him then we're talking W2 or 1099 and he has reportable income. Their living arrangement has nothing to do with it.