lots of contractors going w-2 for primes.
I provide my own liability, workers comp, gas, tools, truck maintenance and a damage retainer. I also pay for backcharges and pay my own taxes. Since my liability and wc is paid for for the year, If I make 1500 in a week, I set aside an amount for taxes, pay for my gas , replace any tools I might need, and take care of my vehicle. The rest is called profit and used however I need it.
When we go w-2, of course the answer will vary from company to company and state to state, If I made the same 1500 in a week, how much should be taken out in the form of taxes and insurance?
Should the company pay for my gas since I'm doing work for them? Should they pay for my tools to do the work? How much am I looking at to be taken out before I get my profit?
Scared in Tennessee.
1099's going w-2
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