Regarding 1099

[ssatya]

Hi friends,


I need a bit clarification on this plzz....... nenu present oka employer tho unna...vadu naku oka 3months probation laga 1099 meda na payroll

run chestadu anta.....tarvata W2 meda run chestadu anta.....evarikanna 1099 meda idea unda? plzzz cheppandi... nenu present OPT Extension lo unna..

present problem lekapote in future any further processings appudu a manna problem na....University ki seppala idi antha.....help out....

[maheshbabuy]

1099 is nothing but, miscellaneous income. By end of the year your employer will give you 1099 form and you need to file taxes(pay tax for that income), your employer will not pay any tax. He should pay the entire amount with out holding any tax from you, by end of the year you will pay the tax.
I think you dont have any problem working on 1099 until ur on opt.......

[interviewhelp]

1099 is a little bit in your favor as you could deduct alot more expenses as your business expenses to reduce your income and then finally you tax burden for the year (Please consult a CPA for a comprehensive list of things which are deductible)