Potential Biz startup help
I need some advice, info with a potential business start up. I have a friend who has a moving company with about 10 trucks in it. He took over the company from family after it was already setup and established for more than 10 years. On weekends, he has been rejecting and turning down business for people looking for movers as he just doesnt have enough trucks nor personnel. (similiar to 2 men and a truck setup)
He has suggested to me, I should quit by 9-5 and purchase a moving truck and he will be able to send me jobs. He send he can cut me a cheque, and have everything above board no problem and I would easily make more money and potentially a better home life with this change.
I am seriously interested in this, but wondering would it be better/smarter for me to create my own company and basically be subcontracted for the move jobs. What type of expenses would i be looking at in business registration fees? How does auto insurance for the truck compare business use vs personal use?
My friend said he is ok to do either option for me, sub contracting, or I can even just sign up and be an employee for his company. Would the tax benefits of having my own company and being able to write off against the company truck expenses and etc be worth it to register as a company. Or is it just less headaches an easier to just be an employee in his company?
Sorry for the many questions. I appreciate any feedback.