[theoldprof]

As a cargo van o/o driving solo, assuming I am contracted to one of the big carriers, Panther, FedExCC, etc. what do I get at the end of the year stating how much they have paid me? Since I am not an employee, I won't get a W-2.

Assuming I have also made X many deliveries, what am I given on payday other than money. Are these loads numbered so that I can cross reference my books with what I am paid?

What does the per diem cover and how is it used? Thanks :+ :+

[Fkatz]

Hi OLDPROF

THE QUESTIONS YOU ASKED.
<As a cargo van o/o driving solo, assuming I am contracted to one of the big carriers, Panther, FedExCC, etc. what do I get at the end of the year stating how much they have paid me? Since I am not an employee, I won't get a W-2.>??

YOU SHOULD RECEIVE A FEDERAL FORM 1099MISC. FOR NON EMPLOYEE COMPENSATION

<Asuming I have also made X many deliveries, what am I given on payday other than money. Are these loads numbered so that I can cross reference my books with what I am paid?>

MAKE SURE YOU KEEP AT LEAST (1) ONE COPY OF YOUR COMPANIES BILL OF LADING THAT YOU HAVE TO FILL OUT WHEN YOU PICK UP THE LOAD. YOU DO NOT HAVE TO KEEP THE SHIPPERS COPY OF THE BILL OF LADING THAT YOU GET WHEN YOU SIGN FOR THE LOAD.

< what does the Per Diem cover and how is it used? Thanks

THE PER DIEM IS USED AS MEAL EXPENSES WHILE YOU ARE ON THE ROAD. SINCE A SLEEPER UNIT IS ADVISED, BUT, CARGO VAN WITH SLEEPERS IS A VERY SMALL PERCENTAGE IN THIS BUSINESS.BUT YOU ARE STILL ABLE TO USE THE PER DIEM AS LONG AS YOU KEEP EXCELLENT RECORDS FOR THE NUMBER OF DAYS THAT YOU ARE ON THE ROAD FROM THE DATE AND TIME YOU LEAVE YOUR REGULAR HOME. TO THE TIME YOU GET BACK TO YOUR REGULAR HOME.IT IS BASED ON 1/4 DAYS, MIDNIGHT TO 6AM , 6AM TO NOON AND ETC.
AN"C, OR D" UNITS HAVE TO LOG, THEY AUTOMATICALLY HAVE THAT PROOF, YOU HAVE TO KEEP A RECORD BOOK OR TRIP SHEETS FOR YOUR RECORDS..

Also keep all receipts for any items that you spend for the Van
large items separate, TV,VCR, Microwave, CB, Cooler or REfrig, Computer, printer, etc, over $100.00 these item are depreciated over a period of years.
Meals, showers, laundry, snacks. and that you spend on a daily basis,
keep in a small pocket notebook, that they can be jotted down as spent.
I have a itemized list of deductiable items available for you free of charge, just e-mail or send you name, address, city and state to me so that it can be sent, right now I cannot attache it to a file and send e-mail

ANY OTHER QUESTION PLEASE DO NOT HESITATE TO ASK?

FRANK KATZ

FRANK'S TAX & BUSINESS SERVICE
704-739-4039+
fAX : 704-739-3934
e-MAIL Fkatz1@aol.com
Cell- 704-300-5143