What does C2c, W2 and 1099 position mean:) ? Explain in detail.

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Originally Posted by niteenkushwaha

What does C2c, W2 and 1099 position mean:) ? Explain in detail.

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I have no idea what c2c means but W2 is a wage statement of earned wages, taxes withheld, 1099 is a stmt used for say interest payments paid, independend contractor monies paid.

Quote:

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Originally Posted by niteenkushwaha

What does C2c, W2 and 1099 position mean:) ? Explain in detail.

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w-2 is a form you fill out when the company you rae working for is going to work for takes out the taxes. If someone says they are w-2 they work for a company. The bigger picture means that the company they work for is taking out money, paying the worker's comp, etc. 1099 means that the person is resposnbile for handling their own taxes, insurance and workers comp. Some call this a corp to corp because people who choose the latter are inc. for tax resons and many times ask for more money because they are taking on the added aforementioned fees by the employer. I hope that helps

I need the information regarding the following;

1. Who is a client
2. Who is Vendor
3. What is C2C
4. What is W-2 forms,necesssity
5. What is 1099

As these play a vital role in the recruitment process, I need the detail information to the mentioned topics. Its urgent as I have to prepare on these topics in 2 days.

Kindly do to the needful.
Waiting for the reply...

Hi
c2c means corp to corp recruiting.In this case payments to be done by 1099 form.after receiving payment you are the responsible to pay all the taxes subjected on your earnings.
w2 is working with 1040 form.in this case you will be paid after deducting all the taxes which are supposed to be paid by you.your employer will deduct all the taxes and he pays on behalf of you,and he keeps you under his payroll.while you are on w2 you are eligible to get unemployment fund also,and with 1099 its not.