i work as a stockbroker on h1b visa and i get paid through 1099. Is it ok to get paid in 1099 rather than w2?

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i work as a stockbroker on h1b visa and i get paid through 1099. Is it ok to get paid in 1099 rather than w2?

2007-01-15 11:43:36 · 2 answers · asked by nybroker11 1 in Business & Finance ➔ Careers & Employment

2 answers

I'm a tax professional- you betcha! It's definately legal. And all in all it's treated just the same as W2 income. No issues with tax preparation, I can tell you that for sure!

2007-01-15 12:16:14 · answer #1 · answered by Honesty given here! 4 · 0⤊ 0⤋

No, it's not Ok.
Terms of H1B require _employment_, not _contracting_
So, if your salary is paid through 1099, both you and your employer can get into throuble.
However, I'm not so sure about bonuses and other forms of extra compensation - it can be Ok to get them via 1099.

2007-01-18 06:54:38 · answer #2 · answered by alex_self 2 · 0⤊ 0⤋