1099 vs. W2 Employees: Avoid IRS Trouble With Our Classification Tips!
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- Опубликовано: 11 окт 2024
- Learn the difference between a 1099 vs. W2 employee so you can keep your business in the clear. The difference between 1099 vs. W2 workers can confuse a lot of small business owners. However, the distinction is an important one-for both the worker and your business. Not knowing how to properly classify a worker can result in serious financial and legal consequences. For our complete guide, visit: bit.ly/2qnW1Vo
Our video covers:
What is a W2 employee? (0:41)
What is a 1099 worker? (1:11)
Costs of 1099 vs. W2 employees (1:34)
How to classify your workers (2:21)
Consequences of misclassification (5:31)
Which should you hire: W2 or 1099 (7:29)
In this video, we provide a basic overview of the differences between 1099 vs. W-2 workers. This video is not intended to provide legal advice or to form a professional relationship. We suggest contacting a business lawyer for advice specific to your circumstances.
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I worked as a 1099 employee for ScanStat Technologies in 2010 at Stanford Hospital and the Supervisor was treating us like regular employees instead of like independent contractors then the contractual company should of paid us like regular employees and I was laid off and got into some financial problems with the IRS but I got everything paid off and you have to make sure you have enough money in a financial institution before becoming a 1099 worker which I didn't at the time.
It’s an excellent and also educative video, But I got recommended through the RUclips comment session to Stray Admin, he’s good at making the W2 forms too. All I did was just to hit the RUclips search icon and type in Stray Administration, he popped afterwards.
Thank you this was so helpful! Knowledge is POWER!
"your business" yet the government has to know about it. We are slaves even as self employed
Yep. You still have no leverage with the government as self employed
@@rfarchives3320 yes you do.
Yes dumbass, no one is given free range.
W2 is better 30% of salary is benefits, when some one offers you 1099 do a counter offer and add 50% on their offer if they take it good if not walk away, example $10 an hour w2 not the same as 1099, as 1099 you are not an employee hours are negotiable and they cannot treat you as employee, 1099 has alot of hidden tax costs and creates more paper work yes you can write things off but 1099 you have a higher chance to have an audit for from the IRS, also 1099 no time labor limits they can work you as much as they want company has no liability and you are a write off for the, if you are making alot of money 1099 is ok if not is a hustle whatever they offer you 1099 deduct 30% and that is what you really make, 1099 is best to get an tax guy to do your taxes it gets complicated. This adds costs, example Uber horrible job at 1099 pay is low and you have to pay taxes at the end of the year no benefits and you have to alot of write offs to lower your taxes.
Alot of companies pay low salary 1099 run like hell they are predators.
ugh it sucks that all of the videos that came up when i was looking for a video answering some of my ss8 questions are for protecting businesses. who's lookin out for the little little guys? lol i am coming for my ex employer so watch out everyone. do the right thing.
I'm being asked to provide paystub(s), W-2(s), 1099(s), or IRS Wage and Income Tax Transcript(s) for the first and last years of employment for all my past jobs for employment ..is this normal for the hiring process for a low level job? I've never been asked this before
Excellent job, thank you so much!
Both 1099 and W-2 tax form is tax paid as a gift to the government per IRM Document # 6209.
Question : Do you want to give your hard earned money to the government as a gift tax ?
This is an amazing video with valuable information. I have a question, if i am running a staffing agency and working with clients to hire temp-to-hire workers, that will eventually be hired by Client, will I need to hire the candidates on W2 or 1099? I appreciate your answer in advance.
Following
I an individual who worked for a company for a months i think. She they paid for flights, motels; food, and tools. i didn't sign any papers. My supervisors kept calling me an employee. It was expected to be a 2 day gig but i was promised training and it never happened so i quit. (She's saying she fired me for some reason.) Anyways they want verification of who i am, and submission of a W9 form. What category do i fall into?
(Just a side note: She's texting me saying I'm an illegal immigrant, saying she hopes i get deported, that i should put a bullet in my head, and that she's going to report me for tax evasion and try to get me persecuted to the fullest extent of the law. Can i sue her company for harassment and for not even paying me? This is strange for me)
Yes, you can sue her. You need proof that you weren't paid. Some kind of paperwork, text messages that you can print out, something stating your pay.
Very informative video
Thank you 😊
This was an excellent explanation 👏👌👍
I’m a loan officer and I’m strictly commission based. I’m in California as well.
I’m currently a W2 employee which doesn’t make sense since I work independently generating my own business. Would I be better off as a 1099 employee?
Seems like you have the best of both worlds - you get the benefits without the micro-managing 👌
I’m a full time employee but my boss gave me a 1099? Any tips?
I'd consult a lawyer about this; as an employee, you don't file as a 1099.
this is too late of a response but you do file taxes and pay them as an independent contractor, but also file forms SS-8 and 8919 and send them in on or before the day you send your taxes in. SS-8 asks questions about your job that will prove if you were misclassified, and 8919 is to file to have the employer pay your medicare and social security taxes. you will have to pay them but you'll get reimbursed once the IRS makes a decision.
I work for my brother in his company, is it better to get paycheck or get 1099. Which one would be better for me?
It depends what you prefer. We would recommend being a W2 employee as you're entitled to more benefits and protections, such as overtime protections and retirement contributions.
Your asking her a question that YOU should know yourself . HOW IS SHE SUPPOSE to know what's better for YOU when you know your NUMBERS and she don't ????. You lazy thing ....
Question if I have a roofing corporation and I want to pay my worker as a 1099 do I get in trouble with the IRS? My worker don’t do taxes.
It's the RESPONSIBILITY of the lazy worker to do his OWN taxes ..
Can the employee get in trouble ?
What do you mean?
@@FunderaLedger Is it against the law for a company to misclassify an employee as a 1099 independent contractor?
Hi , my husband is a sub contractor . Should he be getting w2 form or 1099
1099
This video is soo great 👍 and it helped me alot thanks to the video maker, but my cousin told me about one veliscyberclinic and I got my w2 ready