3.15.2022 Freight Broker 101 Training for Beginners - Welcome Back 

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Thank you. Appreciate you

Thank you and GOD bless you as well.

Thank you!

Thank you.

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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

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.

thank you

Welcome

Usually on the load board details in the posting of the load.

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?

yes

In most cases

Friday at 6 pm EST for enrolled members

$5,000 is a good starting point.

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.

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??