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Thread: Big vs Small company

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    Default Re: Big vs Small company

    Quote Originally Posted by ProfessionalLocator View Post
    Okay, here is how I recall paying for a take home company vehicle works so it costs you nothing and you do not pay additional income tax.

    To prevent your being charged extra taxes for a take home company vehicle the company charges you a small fee. To cost you nothing they then add back onto your paycheck the amount you paid in fee as a business expense reimbursement. Business expense reimbursement in not taxable.

    Remember, for our jobs we are required to take the company vehicle home, we have no choice in the matter, it is not an option. Since the company requires this the amount we pay them is a business expense and they can then reimburse us. It is a paper shuffle where no money actually changes hands.
    I dont see how the irs would know I have a company provided vehicle for take home use? Maybe because my boss does something differently?

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    Default Re: Big vs Small company

    Quote Originally Posted by Tom Edward View Post
    I dont see how the irs would know I have a company provided vehicle for take home use? Maybe because my boss does something differently?

    Your employer is required to report it.

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    Default Re: Big vs Small company

    Good point, most people do not consider the burn it out factor when they think of wear and tear. Part of wear and tear is there comes a time for total replacement. Not driving to the office every day extends the life of a vehicle by years.

    This can also allow you to own an older vehicle that is paid for and the insurance value is so low you can drop paying comprehensive insurance coverage on it.
    (Any vehicle with a loan on it the lender will require comprehensive coverage on it)

    Also when your vehicle breaks down in addition to paying for parts and repair labor often you have to take time off from work to do this. If your vehicle won't start and you cannot get to work you are off the clock. When the company vehicle stops running you have to deal with it which puts you on the clock.

    Quote Originally Posted by paintitnow View Post
    The truck fee is just like pro stated it is just a accounting thing. I have always figured that by using a company truck with the fuel cost, use of own vehicle, maintenance and wear on it and insurance would cost I probably saved between $4-6K a year. which would be like$2-3 an hour difference. Friends and such tell me i should get a newer vehicle. Now working 5-6 days a week and 8-12 hrs a day, I would only use it on weekends. to have a brand new car costing $20-25K in my driveway costing me $350-500 a month and full coverage would be a waste of money. My truck is paid for and just have liability and less than $150K on it. I think I put 4K in mileage a year on it.

    i worked for USIC and now with a smaller company but not a small company. I think we are in like 5 or 6 states. In usic i was micro managed. My company as long as I keep the production in that green zone and no late or damages they pretty much leave you alone. Like a lot of people we have that what I call the "just in case" insurance. the one with the $3-5K deductible. which is an additional $250 a month besides the premium. so basically just have it for a heart attack, cancer or a broken bone that may happen.
    Last edited by ProfessionalLocator; March 9th, 2014 at 07:05 AM. Reason: added sentence

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    Default Re: Big vs Small company

    Quote Originally Posted by ProfessionalLocator View Post
    Your employer is required to report it.

    Hmm well I didn't have to deal with any taxes this year and he would have told me if it was an issue. Maybe difference in states or just how he runs. My boss nor the IRS would never be able to figure the miles put on heading to and from my locates. we dont take down mileeage.

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    Default Re: Big vs Small company

    Quote Originally Posted by Tom Edward View Post
    Hmm well I didn't have to deal with any taxes this year and he would have told me if it was an issue. Maybe difference in states or just how he runs. My boss nor the IRS would never be able to figure the miles put on heading to and from my locates. we dont take down mileeage.
    federal requirement. If you write down mileage or not the feds will tax you something.

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    Default Re: Big vs Small company

    Quote Originally Posted by ProfessionalLocator View Post
    federal requirement. If you write down mileage or not the feds will tax you something.
    If its not on your W2, nothing to worry about.

    Income Tax Liability for Use of a Company Vehicle | eHow
    Tom Edward likes this.

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    Default Re: Big vs Small company

    if I had to choose big over small .....I would go with the big company ....the reason is because sooner usually rather than later the small company will be owned by the big company !
    EricB likes this.
    wise men talk because they have something to say and fools because they have to say something....plato

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    Default Re: Big vs Small company

    Quote Originally Posted by yahoo View Post
    if I had to choose big over small .....I would go with the big company ....the reason is because sooner usually rather than later the small company will be owned by the big company !
    i understand that. Were planning to expand though. my boss tried selling out to triple e but they went belly up and he had to salvage what contracts he could. that was before my time

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    Default Re: Big vs Small company

    Good Luck either way dude !
    wise men talk because they have something to say and fools because they have to say something....plato

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    Default Re: Big vs Small company

    Steve, have you ever had to pay for a damage? If so, does it come out of pocket, or do you have insurance to cover that?




    Quote Originally Posted by TheCableVine View Post
    Hey Tom...

    Glad to see I'm not the only one who works for a great company. Here is my day:

    Show up at the bosses house to get my tickets. Sit around and BS for about 15 minutes and then off to work. Get my tickets done and go home. He doesn't call me unless there is a priority or emegency in my area or he has a question about a locate.

    I don't have health insurance either. I get paid by the ticket which I prefer. None of this hourly stuff with production quotas. We don't clock in or out and he never asks us when we go home. Just get the tickets done. If I get a damage, I pay for it. Simple as that. I drive a little geo metro which I own and I pay for my gas. Roughly $200-$250 a month. Not much. Sounds like I'm responsible for much of the cost. Well, I am but I also get most of the ticket price. I'm guessing I get anywhere around 65-75% of the ticket.

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    Default Re: Big vs Small company

    I would rather work the smaller company. I started out locating for Midwest Marking back in the late 90's with about 150 employees. It seemed as if everybody knew everybody. Ma & Pa outfit, the good ole days.

    Now I have 5,000 employees around me and I know about 15-20 of them including management. Nobody knows nobody. Now it's just all about the all mighty dollar and that's it. The good ole day's are gone.
    UULC likes this.

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    Default Re: Big vs Small company

    Quote Originally Posted by yahoo View Post
    if I had to choose big over small .....I would go with the big company ....the reason is because sooner usually rather than later the small company will be owned by the big company !
    It is possible that the small company will be bought by one of the big firms but not a certainty.

    I believe all the big firms have their majority stock owned by an investment firm. USIC, Utiliquest, DPG, etc. The investment firms hold the stocks for about three to five years then wants to sell them for a profit. So if you wear an USIC t-shirt this week then next week you may well be wearing a Utiliquest t-shirt.

    As the big firms get sold off they tend to degrade. The majority share holder sends down the word to cut spending once they decide they wish to sell. You will see the funds dry up fast. Spending on preventative maintenance on vehicles will disappear and new replacement vehicles will not appear. There will be no new equipment and pay and benefits will often be cut. Expect to see higher production rates demanded. This makes the firm look more profitable than it really is so more money can be gotten for the sale of the majority stock interest.

    Once the new masters take the majority stock share things will usually get worse as they want an immediate return on their investment. Since spending is already low but presented as normal the new owners expect to get more money than the firm can produce and stay healthy. The top people in the firm participated in the deception and are very unlikely to go to the new owners and say ; I was paid to lie to you and now you pay me to tell you the truth, here is what is really happening here.

    We are still better off most times in a small firm.

  13. #28
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    Default Re: Big vs Small company

    I typically work 730-500 M-F.... Which is fine for me, minus jobs 3 or 4 hrs away
    -Jeff
    Locate Technician
    Utility Specialists, Inc

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    Wink Re: Big vs Small company

    Quote Originally Posted by TheCableVine View Post
    Hey Tom...

    Glad to see I'm not the only one who works for a great company. Here is my day:

    Show up at the bosses house to get my tickets. Sit around and BS for about 15 minutes and then off to work. Get my tickets done and go home. He doesn't call me unless there is a priority or emegency in my area or he has a question about a locate.

    I don't have health insurance either. I get paid by the ticket which I prefer. None of this hourly stuff with production quotas. We don't clock in or out and he never asks us when we go home. Just get the tickets done. If I get a damage, I pay for it. Simple as that. I drive a little geo metro which I own and I pay for my gas. Roughly $200-$250 a month. Not much. Sounds like I'm responsible for much of the cost. Well, I am but I also get most of the ticket price. I'm guessing I get anywhere around 65-75% of the ticket.
    there ain't shit to locate in Idaho... it's all clear and aerial! lol
    TheCableVine likes this.

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    Default Re: Big vs Small company

    my day is exactly like yours! nobody bothers me and I am paid way more and more productive.

    been locating for 11 years and went through 20 locating companies nationwide following the money. Now I'm home every night and paid.

    USIC here locally are haters because my boss is hiring their newly trained guys and they lost a major contract to us.

    And USIC field sups say the same thing to them all....they will see to it that if they quit to come work for us, they will NEVER get to work at any USIC nationwide, what a bunch of losers. this is America, it's natural to want better pay and less stress.
    Small company is the way to go in my opinion because the locator feels in control in every aspect, is appreciated more because there are less corporate bullshit meat grinder and is better focused on protecting the utility vs big companies. when they start taking on too much work, that is when shit starts getting splattered
    TheCableVine likes this.

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