Incorporated Vs 1099 Contractor
Hi
I am trying to know the differences in tax that an individual would pay as an independent contractor vs being incorporated.
I am on OPT now and would convert to H-1 in OCtober. I got an offer from a company and would like me to be incorporated. My total estimated income would be close to $60,000.
What about the self-employment taxes?
Would I save more on taxes being incorporated?
I am fairly new to the world of contracting... Please help me out?
What about the deductions in both cases?
On a 1099 Misc would I be liable to pay federal, state, medicare and social security?
Please Advice...
Can I legally be incorporated as a non-resident? (Student on F-1 Status)
Thanks in advance.
Babu