Questions on working as a 1099 - Independent contractor

[kranthi111983]

Bhayya, can anyone please let me know steps involved in setting up a company and working as a 1099 Independent contractor. Company LLC laaga register cheyyali, then quarterly taxes kattali. We have to take salary from it and then business expenses pettochu ani rough ga idea undhi but details telvavu. 

1.  Currently $70 per hour vastundhi. Working on Employers W2. No insurance, benefits. Just getting paid for what I work.

2. Same $70 tho 1099 Independent contractor laga work cheste entha benefit or save cheyochu ?

Koncham guide cheyyandi

[sreenidhee]

llc leka poyina 1099 meeda work cheyochu kadaa

[HugoStrange]

On 3/23/2022 at 12:28 PM, kranthi111983 said:

Bhayya, can anyone please let me know steps involved in setting up a company and working as a 1099 Independent contractor. Company LLC laaga register cheyyali, then quarterly taxes kattali. We have to take salary from it and then business expenses pettochu ani rough ga idea undhi but details telvavu. 

1.  Currently $70 per hour vastundhi. Working on Employers W2. No insurance, benefits. Just getting paid for what I work.

2. Same $70 tho 1099 Independent contractor laga work cheste entha benefit or save cheyochu ?

Koncham guide cheyyandi

same 70$ ayithe W2 chesuko kaka, 1099 you will have to pay double on Social security tax. 12% pay cheyalsi vasthundi. You will lose 6% extra on 1099 and filing taxes ki extra charge chestharu file cheyadaniki