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    samsil's Avatar
    samsil Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Sep 2, 2009, 05:50 AM
    Explain me the U.S Tax Terms (W2, 1099, Corp to Corp).
    Hi there,

    Could anyone please explain me what does these U.S Tax Terms (W2, 1099, Corp to Corp).


    Looking forward for a good explanation.


    Thanks,
    Sam.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Sep 2, 2009, 05:55 AM

    A W2 is a tax form sent to employees each year that details salary and tax deductions. A person who is on W2 status is considered an employee. A 1099 is a tax form sent to a contractor to detail what was paid for work done for the company by the contractor. No deductions are withheld as the contractor is considered self employed and responsible for their own taxes. Corp to Corp is when a company pays another company for the services of individuals who do work for them. In this case, the individual is usually considered an employee of the company providing the workers.
    mallikhajrunrao's Avatar
    mallikhajrunrao Posts: 1, Reputation: 1
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    #3

    Aug 29, 2011, 03:25 PM
    I want clear explanation
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #4

    Aug 30, 2011, 06:04 AM
    Quote Originally Posted by mallikhajrunrao View Post
    i want clear explanation
    What didn't you understand? I think my response was pretty clear. Please don't piggyback your question on someone else's. Please post a new question detailing what it was you didn't understand.
    yashd2005's Avatar
    yashd2005 Posts: 1, Reputation: 1
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    #5

    Jul 9, 2012, 03:25 PM
    Hii this information is sufficient to understand the term
    Thanks dear for explain in such a nice and easy way
    Abhishek...
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