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.
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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.
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.
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.
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