 |
|
| Browse | Ask | Answer | Search | Join/Login |
|
|
||||
|
Salary vs commission advantages
Hello,
I am negotiating with a new company for a sales position. From a tax standpoint is it better to be paid salary or commission. If I get an expense account can I deduct those expenses on my income tax. I would prefer a compensation plan that reduces my income tax liability. Thank you, Larry |
||||
|
||||
|
This is for you to decide if you will make more money as salary or as commission.
But there is a big difference if you are employee and will get W2 or if you are an independent contractor (self employed) and will get 1099-Misc. For comparison between W2 and 1099 read: Your Tax Return: W2 or 1099: Employee or Independent Contractor. |
||||
| Question Tools | Search this Question |
Add your answer here.
Check out some similar questions!
Hi, I am a L1 visa holder from india and was working in Massachusetts from aug 2005 to dec 2005 as a contractor from my original company in india. I used to receive the US salary from aug 2005 to dec 2005 for which I have the W2. During the same period I also used to receive my indian...
We have a complex commission plan. Our commissions for installation are paid 50% up front and 50% when the job is complete. We have 3 year maintenance contracts for which commissions are paid up front. Should we be expensing all of the commissions up front for installations and spreading the...
My company put me on salary a few years back. I still have to work overtime and I still have to punch a time card, I just dont get paid for any overtime hours. Also I have not gotten the standard raise that I used to get anymore. I was wondering is this fair practice?
A friend of mine co-signed on a mobile home in Texas and got burnt. She had to let them repossess it and they sold it immediate. The difference in the obligation and the sale was only $2,750.52 but Vanderbilt Mortgage and Finance Inc. sent her a notice for $9,500. $3,000 was for commission to...
View more questions Search
|
