LondonBabu Posted March 29, 2023 Report Share Posted March 29, 2023 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 Quote Link to comment Share on other sites More sharing options...
KGFsutthi Posted March 29, 2023 Report Share Posted March 29, 2023 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 Quote Link to comment Share on other sites More sharing options...
Sucker Posted March 29, 2023 Report Share Posted March 29, 2023 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 Quote Link to comment Share on other sites More sharing options...
HugoStrange Posted March 29, 2023 Report Share Posted March 29, 2023 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 Quote Link to comment Share on other sites More sharing options...
southyeast Posted March 29, 2023 Report Share Posted March 29, 2023 29 minutes ago, Sucker said: Anna W2 la 2 jobs chesthe uncle Sam neeku tax nuv imagine cheyyanatha vuntadi Please explain? TIA. Quote Link to comment Share on other sites More sharing options...
Sucker Posted March 29, 2023 Report Share Posted March 29, 2023 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 1 Quote Link to comment Share on other sites More sharing options...
VinPetrol Posted March 29, 2023 Report Share Posted March 29, 2023 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 Quote Link to comment Share on other sites More sharing options...
Sucker Posted March 29, 2023 Report Share Posted March 29, 2023 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. Quote Link to comment Share on other sites More sharing options...
Sucker Posted March 29, 2023 Report Share Posted March 29, 2023 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 Quote Link to comment Share on other sites More sharing options...
VinPetrol Posted March 29, 2023 Report Share Posted March 29, 2023 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... Quote Link to comment Share on other sites More sharing options...
VictoryTDP Posted March 29, 2023 Report Share Posted March 29, 2023 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 RICHEST PERSON VI Quote Link to comment Share on other sites More sharing options...
Sucker Posted March 29, 2023 Report Share Posted March 29, 2023 5 minutes ago, VinPetrol said: thanks, good info, I was thinking always LLC! h4 EAD unna s-corp pettuochu anukunta... Yep H4 EAD meedha S corp pettochu Quote Link to comment Share on other sites More sharing options...
Sucker Posted March 29, 2023 Report Share Posted March 29, 2023 3 minutes ago, VictoryTDP said: 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 Quote Link to comment Share on other sites More sharing options...
southyeast Posted March 29, 2023 Report Share Posted March 29, 2023 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. Quote Link to comment Share on other sites More sharing options...
Sucker Posted March 29, 2023 Report Share Posted March 29, 2023 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 1 Quote Link to comment Share on other sites More sharing options...
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