3.15.2022 Freight Broker 101 Training for Beginners - Welcome Back
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- Опубликовано: 15 мар 2022
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Question: 757-515-1684 OR 757-695-9565
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Thank you for the lesson. I feel confident going into the position. I want to sign up for this class/company.
Hope all gets well with you
Hope all is well Charles. Keeping you lifted in my prayers.
Thank you and GOD bless you as well.
Excellent video. Very good information in the industry. Much appreciated
thank you
I really enjoyed this class and learned a lot from the discussion. Great good questions and answers. You got yourself a new subscriber.
Thank you.
Love it !!!
ty
In a normal business structure, an employer can consider a worker as an independent contractor which a 1099 will be issued. This benefit keeps the employer from providing benefits as a part/ full time employee. So , if being a broker agent is treated different, I’m not sure how.
Salute Bro thanks so much for the information
Nice video full of gems 💎 some stuff I knew already but I’m definitely leaving this video ready to cold call shippers more confidently
Thank you. Appreciate you
Such a blessing! You will be blessed for doing this! Thank you so much for this awesome information!
yw
Very informative and straight forward
Thank you!
Thank very much for you guys help.If I am a broker already and wants to have assets too,Do I have to get an authority of carrier under a separate company or just get the carrier authority under the same company that I got my brokerage?
*I HEARD IN THE BEGINNING OF THIS VIDEO YOU SAID SOMETHING ABOUT HAVING A DISPATCHER SIDE? IS THERE A VIDEO OR CHANNEL TO THAT ONE!*
if you paying a truck note and all that truck is getting 4.5 mpg. That's a problem. Time to give that guzzler up!
You had an accident? God surely bless you as you bless others. WoW
Can we please talk about how to not using a factoring company for people considering getting into this business that are bringing capital. And are US citizens!
Do you have to have a truck in order to get an Freight Authority??
Hi I was wondering can you use a [name] Transport Group??? as your brokerage business ?
I need help starting my brokerage how can I get in your class or online live training
Hi, I’m interested
Hello. You do not need to be a business entity when completing a 1099
It's up to the employer to put the employee as a 1099 contractor or a W2 employee. 1099 means they are independent and responsible to pay for their own income taxes. Some states have gotten more strict on classifying emloyees as 1099 (see California vs Uber), but for the most part is still perfectly legal as long as you, as the payer, report that provided income.
A W2 employee can be hourly (hours are tracked) or salary (hours are not tracked). The employer is required to pay the relevant taxes for a W2 employee. The payroll companies handle this. Additionally, most states have requirements for providing benefits (health insurance, time, paid sick days, etc.) for any type of W2 employee if they are working 30+ hours per week, etc.
Additionally, the contract that you have with your employees (W2 or 1099) is a separate issue from how you classify them. You should have separate agreements, employee handbooks, etc depending upon the classification, but there is nothing specific about this industry that requires some sort of different type of contract. These are your employees and they are allowed to use your licensing.
The whole discussion regarding 1099 vs W2 was ridiculous. Either way, you're trying to find employees that will work under your brokerage. You can hire a 1099 employee that comes and cleans up your office. You can hire your nephrew as a W2 hourly and not pay them benefits.
Generally, it comes down to this. If you are starting out, it may make sense to hire 1099, but have a clear contract. This contractor can be stipulated for whatever you want them to do and it has nothing to do with this specific industry. This needs to be considered though as state rules are more relevant here than the FMSCA or federal regulation in general. With a 1099 contracter, you can simply pay them based upon the contract you have established. It may be hours. I may be commission. It's up to you. This is America. We are allowed to business relationships with each other. You can write them a check or even Venmo them for their payments. You are responsible for reporting this 1099 income and they are responsible for paying taxes on it.
W2 means responsbilities as an employer. Specifically in the tax and benefits front. However, payroll companies exist for this reason. If you are taking on W2 employees, you need to be prepared to hire a payroll company (Gusto or Patriot are good starts for a small company), also sign up for benefits with an insurance broker, liability insurance, etc. You are now running a company at this point. Of course, you will need an accountant and legal as well pretty quickly. It's actually not that big of a deal, but you should be all in and confident at this point.
Also, generally. A 1099 contractor should send you an invoice according to whatever pay period you have established between the two of you. If it's an hourly contract, they should send you a timesheet. Most of the major payroll companies have tools like timesheets to manage 1099.
how can i reach you privately for more imformation
When u get your MC # after we apply for brokers licrnce , can we dispatch trucks with that MC # or we also need DOT# ? Thanks!
You need MC, DOT, and a Surety bond. Takes about 21 days to get active status on the FMCSA
@@luissanchez2069 wait, I filled OP 1 form and sent it , which one should I do first ? I contacted fmcsa to look up on my status and they told me that they need MC and DOT # to look up my status. I am confused because videos I watched here never mentioned that we need DOT # because brokers are not the carriers.
Is this video good for frieght agents as well or more so brokers?
In most cases
1. Is it possible to get a surety bond without sharing SSN
2) Is it possible to avoid linking SSN with anonymous LLC's EIN? I want surety bonds for a freight brokerage (BMC-84).
Please answer both the questions.
1. No, your personal credit needs to be ran to establish how eligible you are and what your cost of surety would be. 2. SSN is on the personal side and EIN is on the business side. The 2 are mutually exclusive of 1 another. Be careful. Do it the right way is all I am saying.
@@charlesmundy3350 Thanks for answering.
3) Can I join an existing broker authority and start do brokering?
4) Can I open more than one DAT using a single broker authority?
5) Is a broker’s personal information used while registering broker authority a publicly available information?
HAVE BROKERAGE AND TRUCKS AND TRAILERS NEED HELP MAKING MONEY NOW. I HAVE SPENT A LOT LOL
Do you have agents?
@@charlesmundy3350 NO ITS JUST ME AND THE MEN THAT DRIVE THE TRUCKS I USE THE DAT BOARD RIGHT MOW TO KEEP THEM BUSY. I NEED TO KNOW HOW TO USE MY BROKERAGE NOW ALSO
@@jamekacraine9486 Oh, I see. We offer Freight Broker training for Beginners if interested
@@charlesmundy3350 DROP THE LINK
If you need owner operator (s) let me know. Please and thank you. I know a couple looking for consistent work
How get to load
How can you tell if it is drop & hook vs touch?
Usually on the load board details in the posting of the load.
We have a carrier MC/DOT for over a year and I was told we can't add brokerage under the same MC- is this true?
I called DOT and they were very helpful. My DOT was inactive and I was able to reactivate and pay the 300$
When is the next class?
Friday at 6 pm EST for enrolled members
Im a carrier who wants to start a brokerage under my llc. Ive built a good amount of business credit and I'm considering using that to acquire the surety bond. Would this be possible? Thanks as well for the amazing content.🏁🏁🏁
Your freight brokerage LLC would need to be separate from your Carrier side LLC
Is that just your personal preference? Another expert on another channel just said otherwise??
I'm new
Welcome
How much cash do you need on hand to start brokerage
$5,000 is a good starting point.
Can I do this at 17 years old?
yes
So you need to trate Mark your brokerage name first