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what does $100 on W2 mean?


LondonBabu

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Does it mean the employer will deduct all taxes like federal, state, medicare, social (both employee and employer side) and then pay remaining ?

OR 

they would deduct only the employee portion of the taxes like federal, state, medicare and social?

For example for NJ state, where state tax is 6+

would this mean for year 2000 hours * 100 = 200K given to W2 company, and they will say deduct X portion of taxes and then give remaining? 

please help me understand how this works. never done consulting

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5 minutes ago, LondonBabu said:

Does it mean the employer will deduct all taxes like federal, state, medicare, social (both employee and employer side) and then pay remaining ?

OR 

they would deduct only the employee portion of the taxes like federal, state, medicare and social?

For example for NJ state, where state tax is 6+

would this mean for year 2000 hours * 100 = 200K given to W2 company, and they will say deduct X portion of taxes and then give remaining? 

please help me understand how this works. never done consulting

That means 200k if you go to his payroll ani, benefits and all you can only talk once you crack the job and negotiate 

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2 hours ago, LondonBabu said:

Does it mean the employer will deduct all taxes like federal, state, medicare, social (both employee and employer side) and then pay remaining ?

OR 

they would deduct only the employee portion of the taxes like federal, state, medicare and social?

For example for NJ state, where state tax is 6+

would this mean for year 2000 hours * 100 = 200K given to W2 company, and they will say deduct X portion of taxes and then give remaining? 

please help me understand how this works. never done consulting

Anna W2 la 2 jobs chesthe uncle Sam neeku tax nuv imagine cheyyanatha vuntadi 

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3 hours ago, LondonBabu said:

Does it mean the employer will deduct all taxes like federal, state, medicare, social (both employee and employer side) and then pay remaining ?

OR 

they would deduct only the employee portion of the taxes like federal, state, medicare and social?

For example for NJ state, where state tax is 6+

would this mean for year 2000 hours * 100 = 200K given to W2 company, and they will say deduct X portion of taxes and then give remaining? 

please help me understand how this works. never done consulting

your salary is 200k, then dantlo taxes cut avuthai, fed, state, medicate and social. Then if benifits unte avi cut ayyi rest neku vasthundi

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Just now, southyeast said:

Please explain?  TIA.

2 high paying jobs on W2 ante min 400K bracket la padatham anna. Okati Full time or W2 pettukoni inkoti Own LLC meedha or employer tho C2C pettukondi. More W2 ante more tax uncle sam ki ivvatame yemi migaladhu after taxes. nene live example. Last year anni W2 le chesa many jobs naa okkadithe 450K vellindhi just on w2 inka wife dhi add chesthe naa kallu thirigayi sare antha earn chesam kada yem migilindhi ani chusthe morethan 50K tax. Luckily my business expenses saved form this chit show lekunte asssam poyevaanni avanni kattali ante 

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10 minutes ago, Sucker said:

2 high paying jobs on W2 ante min 400K bracket la padatham anna. Okati Full time or W2 pettukoni inkoti Own LLC meedha or employer tho C2C pettukondi. More W2 ante more tax uncle sam ki ivvatame yemi migaladhu after taxes. nene live example. Last year anni W2 le chesa many jobs naa okkadithe 450K vellindhi just on w2 inka wife dhi add chesthe naa kallu thirigayi sare antha earn chesam kada yem migilindhi ani chusthe morethan 50K tax. Luckily my business expenses saved form this chit show lekunte asssam poyevaanni avanni kattali ante 

llc OR Corp.. edi petavu bro.. Sector: IT consulting ani petava

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Just now, VinPetrol said:

llc OR Corp.. edi petavu bro.. Sector: IT consulting ani petava

Naa self employement ki LLC use chesthunde aa business card nundi anni bills chesthunde so bayataki theeyaledu money spent on bills and trips. Employees kosam S corp vundi. 

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Just now, Sucker said:

Naa self employement ki LLC use chesthunde aa business card nundi anni bills chesthunde so bayataki theeyaledu money spent on bills and trips. Employees kosam S corp vundi. 

Remeber single meber LLC ante schedule C adhi nee personal ki add avthundi better go with S -corp 

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5 minutes ago, Sucker said:

Remeber single meber LLC ante schedule C adhi nee personal ki add avthundi better go with S -corp 

thanks, good info, I was thinking always LLC! h4 EAD unna s-corp pettuochu anukunta...

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22 minutes ago, Sucker said:

2 high paying jobs on W2 ante min 400K bracket la padatham anna. Okati Full time or W2 pettukoni inkoti Own LLC meedha or employer tho C2C pettukondi. More W2 ante more tax uncle sam ki ivvatame yemi migaladhu after taxes. nene live example. Last year anni W2 le chesa many jobs naa okkadithe 450K vellindhi just on w2 inka wife dhi add chesthe naa kallu thirigayi sare antha earn chesam kada yem migilindhi ani chusthe morethan 50K tax. Luckily my business expenses saved form this chit show lekunte asssam poyevaanni avanni kattali ante 

:3D_Smiles: RICHEST PERSON VI

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3 minutes ago, VictoryTDP said:

:3D_Smiles: RICHEST PERSON VI

Anna 2 jobs okko job 170K ante easy ga akkade $350K kada anna. I did many W2 last year that was a big mistake motham Uncle sam ke poyayi. Ee year anduke job maanesa and business meedha concentrate chesa. I am not rich anna andari la ne kakapothe wife side already successful biz family kabatti naaku easy peasy ayyindhi BIz lo 

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25 minutes ago, Sucker said:

2 high paying jobs on W2 ante min 400K bracket la padatham anna. Okati Full time or W2 pettukoni inkoti Own LLC meedha or employer tho C2C pettukondi. More W2 ante more tax uncle sam ki ivvatame yemi migaladhu after taxes. nene live example. Last year anni W2 le chesa many jobs naa okkadithe 450K vellindhi just on w2 inka wife dhi add chesthe naa kallu thirigayi sare antha earn chesam kada yem migilindhi ani chusthe morethan 50K tax. Luckily my business expenses saved form this chit show lekunte asssam poyevaanni avanni kattali ante 

Thank you! Which one do you suggest LLC or S-Corp for personal multiple W2's? How do you expense trips from business?

Naaku zero knowledge on this topic, trying to learn to save. 

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Just now, southyeast said:

Thank you! Which one do you suggest LLC or S-Corp for personal multiple W2's? How do you expense trips from business?

Naaku zero knowledge on this topic, trying to learn to save. 

Nee personal income more than 300K vunte go for S corp anna. Ledu just one job and vachedhi not more than 120K ante LLC is good. I suggest personal taxes and Biz taxes seperate better anna. I don't know your situation kada like Join filing with your wife if yes is she doing multiple jobs or one many meedha depend ayyi vuntadi anna. 

Naa personal opinion S corp is better 

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