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dale52
Jan 5, 2011, 07:22 AM
My new boos wants to 1099 me. The prior boos that owned the company had a payroll company. Please advise me what my next step should be.

ebaines
Jan 5, 2011, 09:37 AM
Your next step is to either accept the job as a 1099 employee or quit. Be aware that as a 1099 employee you are responsible for paying your own taxes (estimated income taxes, Social Security, Medicare, and state/local if applicable), and generally 1099 employees do not receive benefits such as medical or vacation like salaried employees normally do. On the plus side: as a self-employed contractor you may be able to deduct expenses for your business, such as cost of computer, telephone, etc.

AtlantaTaxExpert
Jan 5, 2011, 04:15 PM
Agreed.

When negotiating with your boss, take the stance that working as a 1099 inddpendent contractor means you need to be paid MORE MONEY to compensate you for the extra taxes and costs you must bear.