View Full Version : 1099 vs W-2
staceyrk
Jul 23, 2008, 01:15 PM
I am planning on going back to work 21 hours/week. My schedule will follow the school calendar(closed for vacations, federal holidays etc.). Is it more advantageous for me to be on a W-2 at $39,000 or a 1099 at $65/hour?
Any information would be most appreciated--thank you in advance.
Stacey
Fr_Chuck
Jul 23, 2008, 01:21 PM
What other paid benefits wlll you get as an employee?
Is the 39,000 based on your 21 hours a week
staceyrk
Jul 23, 2008, 01:24 PM
I will receive no other benefits... I do not need health insurance and my employer does not offer a 401k. Yes, the 39k is for 21 hours week for approximately 46 weeks/year.
What do you think
lwelch
Aug 23, 2008, 05:41 PM
1099 Pros
More Money $62,790.00
Extra Tax for 1099 $4,803.44
Difference $57,986.57
You can also get better write offs for mileage and your computer etc...
1099 Cons
No unemployment if you get laid off
No workers comp if you get injured
You are responsible for paying for all of these things if you want that level of security. Your employer can afford to pay you more but you won't get added benefits like these that he/she would normally have to pay.