W2 ki 1099 ki difference enti

[vatchesa]

Employer gadu pay 1099 meda ista antunadu ,,, is it safe,, emaina bokka padatda manaki?

[ekunadam_enkanna]

Whenever you are on W2 or a full time employee, you are ignorant of employer share of social security and medicare taxes--in total 7.65%. If you are on 1099, you need to pay 15.3% for social security and medicare taxes, on top of your income tax. On your W2 paycheck, you just see 7.65% deduction. 

On 1099, you can write off expenses like car mileage, flight tickets, home office, etc. However, on W2, you can't.

[jays02]

W2, you can get on time  payment without worrying about client issues. But 1099, I think it can be late and depends on client payments. Is this correct?

[samaja_varagamana]

2 hours ago, ekunadam_enkanna said:

Whenever you are on W2 or a full time employee, you are ignorant of employer share of social security and medicare taxes--in total 7.65%. If you are on 1099, you need to pay 15.3% for social security and medicare taxes, on top of your income tax. On your W2 paycheck, you just see 7.65% deduction. 

On 1099, you can write off expenses like car mileage, flight tickets, home office, etc. However, on W2, you can't.

Ma emp gadu maga emplyr tax lo kuda share kuda minguthadu w2 paina em chepali vadiki

[ekunadam_enkanna]

17 minutes ago, samaja_varagamana said:

Ma emp gadu maga emplyr tax lo kuda share kuda minguthadu w2 paina em chepali vadiki

I don't know your clear situation. Give some example of what is happening. Let me give you an example: Mr X is on H1B, and gets a contract that pays $100 per hr. 80-20 share. mesthri and the end client is in Texas too (just to make sure there are 0 state taxes).

80% of 100 = 80. Kaani, vaadu ichhedi 74.32 per hr on W2.  74.32 * 1.0765 = 80.00.  This kind of play is favorable to mesthri. Mesthri gaadu 20 dollars gantaku mingutadu.

Ala kaakunda, mesthri gaade 7.65 taxes 20% lo kadithe. Appudu, vaadu 80 ki 7.65 pc kattali. Ante, vaadu 6.12 vaadi 20 dollarla share lo kattali. Vaadu appudu mingedi $13.87 per hour.

 

 

57 minutes ago, jays02 said:

W2, you can get on time  payment without worrying about client issues. But 1099, I think it can be late and depends on client payments. Is this correct?

Yes, you get paid on time. In case you don't get paid, you can complain to DoL for W2 wages. On 1099, one is paid based on the invoice and how late you agreed to get paid.

[samaja_varagamana]

1 hour ago, ekunadam_enkanna said:

I don't know your clear situation. Give some example of what is happening. Let me give you an example: Mr X is on H1B, and gets a contract that pays $100 per hr. 80-20 share. mesthri and the end client is in Texas too (just to make sure there are 0 state taxes).

80% of 100 = 80. Kaani, vaadu ichhedi 74.32 per hr on W2.  74.32 * 1.0765 = 80.00.  This kind of play is favorable to mesthri. Mesthri gaadu 20 dollars gantaku mingutadu.

Ala kaakunda, mesthri gaade 7.65 taxes 20% lo kadithe. Appudu, vaadu 80 ki 7.65 pc kattali. Ante, vaadu 6.12 vaadi 20 dollarla share lo kattali. Vaadu appudu mingedi $13.87 per hour.

 

 

Yes, you get paid on time. In case you don't get paid, you can complain to DoL for W2 wages. On 1099, one is paid based on the invoice and how late you agreed to get paid.

Same example lo ma mestri runs 72 anamata (Instead of 74.32)80 20 ayaka 10% minging for everyone thats his rule

[ekunadam_enkanna]

59 minutes ago, samaja_varagamana said:

Same example lo ma mestri runs 72 anamata (Instead of 74.32)80 20 ayaka 10% minging for everyone thats his rule

Vaadu total ga 30 percentu minging!!