1099

[shourekl]

i have been informed by an owner that 60/40 or any type split does not meet 1099 criteria.He said that to meet requiremects we must now pay 300.00 a week for truck 40.00 for ins. and 40.00 work comp.I think i need to look for new owner?

 

[X1_SRH]

There is no way that I will ever claim to be an authority on taxes, but I think that this plan sounds like a requirement of your owner and not by the IRS. As far as I know the original requirements for 1099 still stand. I'd consult a tax expert if I were you - just to be sure. Best of Luck - Scott

 

[Scuba]

Will you own the truck at some point? The way i understand it unless you have an intrest in the truck then you are NOT an independent contractor. If he is leasing the truck to you then you would be foolish to take a 60/40 split you should get %100 of what the truck gets and he gets his $300.00 per week. This sounds like a crooked owner to me i could be wrong but thats what it souunds like

 

[Tennesseahawk]

Scuba... this thread is 3 years old.