I will join a friend that has a D-unit leased with Con-Way and drive team with him as soon as I finish orientation next week.We are from the same city,known each other for many years and good friends.He owns the truck (paid off) and we'll go 50/50 on everything:fuel,tolls,repairs,insurance,etc...and what's left will split in two.I MIGHT buy half of the truck on a later date when he is ready to sell, but for now he'll be the owner 100% on the paper.My questions are:
-How does Con-way pay us?Both or just one settlement for the owner?
-How do I pay my taxes,deductions etc...since we'll share the expenses and on the papers he is the owner,how do I prove IRS that we went 50/50?
-What other things should I look into in order to be succesfull in business and keep our friendship as it is or better for both of us.
-I do not have any expediting experience,I drive tractor-trailers and team status I did it for only 4mo.
Thank you and BE SAFE!
"Are you talking to me?"
-How does Con-way pay us?Both or just one settlement for the owner?
-How do I pay my taxes,deductions etc...since we'll share the expenses and on the papers he is the owner,how do I prove IRS that we went 50/50?
-What other things should I look into in order to be succesfull in business and keep our friendship as it is or better for both of us.
-I do not have any expediting experience,I drive tractor-trailers and team status I did it for only 4mo.
Thank you and BE SAFE!
"Are you talking to me?"