Incorporating As An Owner-operator

Topic 2625 | Page 1

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Jolene D.'s Comment
member avatar

I have been an owner-operator for several yrs. now and have been wondering if I should incorporate. I only have one truck that I drive myself. Would it provide me with more tax breaks? I also understand that this would protect my personal assests , such as my home. If anyone has had experience with this would love to hear from you.
guyjax(Guy Hodges)'s Comment
member avatar

It will not protect your assects. If you are going to be sued they will go after the trucking company(you in this case due to being O/O) and they will also sue you personally cause you were the driver therefore getting around the the incorporation and any protections.
ThinksTooMuch's Comment
member avatar

Guyjax is probably right. Trucking as an O/O is not like running a McDonald's, you are the employee as well as the business owner. So anything you do wrong you might be doing as the owner or as the individual employee. But ask an attorney to make sure. Or talk OOIDA people maybe.

OOIDA:

Owner-Operator Independent Drivers Association

Who They Are

OOIDA is an international trade association representing the interests of independent owner-operators and professional drivers on all issues that affect truckers. The over 150,000 members of OOIDA are men and women in all 50 states and Canada who collectively own and/or operate more than 240,000 individual heavy-duty trucks and small truck fleets.

Their Mission

The mission of OOIDA is to serve owner-operators, small fleets and professional truckers; to work for a business climate where truckers are treated equally and fairly; to promote highway safety and responsibility among all highway users; and to promote a better business climate and efficiency for all truck operators.
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