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In trucking, an owner-operator is a self-employed commercial truck driver or a small business that operates trucks for transporting goods over highways for its customers. [1] Most owner-operators become drivers for trucking companies first to gain experience and determine whether the career is for them.
The trucking industry employs 10 million people (out of a total national population of 300 million) [51] in jobs that relate directly to trucking. The trucking industry is the industry of small business, considering 93 percent of interstate motor carriers (over 500,000) operate 20 or fewer trucks. [52]
The Owner-Operator Independent Drivers Association (OOIDA), a group that represents independent trucking owner-operators, has been a key force behind the new regulations. While the final rules in MAP-21 fell short of the OOIDA's wishes, Todd Spencer, executive vice president of the organization, praised them as a "win-win" for truckers and ...
Landstar System, Inc. is a transportation services company specializing in logistics and more specifically third-party logistics.Landstar also utilizes an extensive network of more than 11,000 independent owner operators, referred to internally as BCO's (business capacity owners).
For example, an owner-operator who receives 95% of the load revenue may only be provided with dispatch services while an owner-operator who receives 65% of the load revenue may have a company-provided trailer, insurance, or other benefits. In most cases, the owner-operator also receives 100% of the fuel surcharges. [22]
Small business owners, independent contractors and gig workers soon will be getting 1099-K tax forms if they used any payment platform on which they had at least $5,000 in business transactions in ...
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