Ask Experts Questions for FREE Help !
Ask
    nchand's Avatar
    nchand Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Nov 27, 2010, 05:59 PM
    F1 OPT W2
    I recently got a new job as a contractor under W2. I'm currently under F1 OPT status and the company agreed to pay 30 per hour. According to this, how much will I get approximately after deductions if I work 20 days a month, 8 hrs a day.I work in California. What are the deductions applicable. Thanks.
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Nov 27, 2010, 10:23 PM

    On F1/OPT you are exempt from residency for 5-years. You must file non-resident tax return Form 1040NR or 1040NR-EZ and Form 8843. Your income is not subject to FICA taxes but you must pay federal and state income taxes. On your income you will get deduction based on tax treaty between the U.S. and your country.

    If you are working as a contractor, you will not get W-2 instead you will get 1099-misc. With 1099-misc, you will also file Schedule C or C-EZ (Form 1040).
    Your U.S. Tax Return: U.S. Tax Filing Requirements for Non-Residents
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

    Nov 28, 2010, 10:02 AM
    If you are under W-2, you are an employee. If you are under Form, 1099-MISC, you are a contractor.

    In either case, you pay the same amount in income taxes, but as a contractor, no taxes are withheld from your salary.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Tax calculation for student on F1(OPT) status opt H1 status. [ 1 Answers ]

Hi I am foreign student on F1 status doing OPT in US. I opted H1B status on October 2009. I am working with same employer from 01 Jan 09 - 30 Sep 09 on F1-OPT status. Later I continued on H1B status with same employer from 01 Oct 09. My employer has deducted FICA from my pay since 01 Jan...

F1-OPT married to US Citizen (Now H1B), Tax exempt during OPT Period? [ 5 Answers ]

Hello, I am a foreigner and just got married to US Citizen this year in August. I have tax questions to ask. Here is my situation. - Start working in Feb 08 as F1-OPT Status until Sept 08. H1B effective on Oct 1st, 2008. - I got married to US Citizen in Aug 08, I am applying for Green Card...

Can Opt Student work as 1099 being on OPT Extension ? [ 2 Answers ]

HI to all GURUS, I came to US for my master in Computer science in 2006 in NJIT, I graduated on 20 th dec 2007 , So I got my OPT in Jan 2008, I applied for my H1 but didn't got it!! So then I applied for my OPT extension (17 month extension) which starts from jan 2009 for 17 months. I know...

Reentering US with OPT from working abroad while OPT is pending [ 2 Answers ]

Hi all, My OPT is currently pending, my company gave me an option to work abroad until the OPT is approved. If I do work abroad while my OPT is pending, can I be guaranteed re-entry to US when my OPT is approved? Thanks!

Wife on OPT. Have not received a W2 for the opt work. [ 1 Answers ]

Hello, My wife was a student till July of 2007 when she graduated. She was on F1 till then. She got a W2 for her work here from the university as a research assistant. She got a training position on her OPT. She was paid for the months of November and December. However, the OPT employer did...

View more questions Search