What are the pros and cons of getting 1099 from your employer comparing to getting W-2?

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2006-07-26 09:25:10 · 2 answers · asked by happygirl 1 in Business & Finance ➔ Taxes ➔ United States

1099 - pro: get to be more free with deductions (Schedule C or start a corporation)
con: no FICA/MED tax paid...you pay it

2006-07-26 10:10:57 · answer #1 · answered by 3eleven 4 · 0⤊ 0⤋

If your are an employee, you get a W-2. If you are an independent contractor you get a 1099. You don't get to pick.

2006-07-26 12:43:30 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋