Missouri Owner Operator Jobs
There are many benefits associated with being an owner operator in Missouri. An owner operator is a self-employed individual who can cherry pick which trucking assignments he wants to accept. This means that you are never forced to work holidays or weekends if you don't want to, or you may work additional hours if you need to make more money in a given month. This flexibility in controlling your time and income is just one of the many reasons why so many truck drivers choose to become owner operators.
When a trucker opts to work as an employee for a trucking company, the employee typically is a W-2 employee. This means that the trucking company withholds taxes from the trucker's paycheck. As an owner operator, in most cases, the company paying you for your services will not be withholding taxes. However, your taxes will still be due in April. If you are like most owner operators, you diligently skim some of your income from each paycheck you receive and stash that money into a savings account. In April when your taxes are due, you will then have money to pay the taxes that are owed to you.
Knowing how much money to withhold from your paychecks, however, can be tricky. You may not want to save more than necessary for your taxes, but you also don't want to be in a situation where you didn't save enough money. There are a few different steps you can take to ensure your own tax withholdings are fairly close to the amount you will owe to the IRS in April. One step you can take is to use an online tax estimate calculator. Some of the calculators available are fairly basic, and others may be more comprehensive and designed specifically for independent contractors like you. All, however, are designed to be easy-to-use tools that can help you to closely estimate how much taxes you will owe each year. You can also consider making scheduled tax payments to the IRS each quarter. Rather than having to pay a large amount of money in taxes in April, you can make smaller quarterly payments. In some cases, such as if you owed the IRS a considerable amount of money with your previous tax return, the IRS may require you to make these quarterly payments. A third option to consider is to contract the services of an accountant or tax professional for assistance. An accountant or tax professional can provide you with personalized assistance in estimating your taxes.
While there are many benefits associated with being an owner operator in Missouri, as a self-employed individual, this aspect of your job will require your attention. By following these tips, however, you can decrease the uncertainty of this aspect of your job and more thoroughly enjoy your time behind the wheel of your rig. Whether you want to be based in Kansas City or Springfield or you're in a rural area, there are plenty of owner operator trucking jobs to go around in this Midwestern state.