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Re: 1099's going w-2

I am not familiar with TN's state taxes, I am from CA so we pay higher rates on everything from insurance to unemployment taxes. One thing to keep in mind is that most of this talk about companies changing from 1099 employees to W2 employees is because they were not doing it correctly from the start. If you are a valid contractor for the state you are working in, and if you can provide and keep all your insurances, depending on the type of work, you should be able to stay a 1099. Most employers who are legit don't mind paying higher prices to a valid subcontractor because their overall expenses decrease (no workers comp to cover that person, no payroll taxes, etc.).
However, even if you choose to go W2 (or if you are forced to), you can still deduct certain expenses at the end of the year, especially if you are not provided fuel or a truck by the employer. You can contact a CPA in your area for a quick consult, and they should be able to help you figure out if you're better off as a W2 or a 1099 worker. Everyone's situation is different (like some people cannot keep track of any of their expenses, so they are better off as a W2 when it comes to tax season).
Good luck with your decision....
This is CABL.com posting #234953. Tiny Link: cabl.co/m9hJ
Posted in reply to: 1099's going w-2 by skyclimbers
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