[zaron]

Hi,

About me:
I am F-1 student currently on OPT..
I am working as a independent contractor for the company.

My Questions:
1) How can the company pay me -- through 1099 or through W-2 or are there anything else
2) What are the implications if I am paid through 1099
3) What are the implications if I am paid through W-2
4) My company asked me to Fill W-9 Form... is this the correct one or what is the correct one I need to fill..
5) Does the filling of the forms (correctly/incorrectly) affect my H1 or OPT extension later..

[MukatA]

1099-misc (nonemployee compensation) income: You are an independent contractor. You will report your income and business/job related expenses on schedule C or C-EZ (Form 1040). Then you put net income (or loss) on line 12 of Form 1040. This income is not subject to SE tax at 15.3% so you do not complete schedule SE (Form 1040). Your U.S. Tax Return: Tax Filing by Self Employed Sole Proprietor or Independent Contractor

For a nonresident it does not make any difference tax wise with 1099-misc or W-2. With W-2 if you have job related expenses, you can deduct it only as itemized deduction subject to 2% AGI limit.

[zaron]

Thanks for you advice MukatA...

Had a small question, my company asked me to fill W-9 form... (as a non citizen and on F1 with OPT)
What is the correct form to be filled instead of W-9

For my taxes, I understand that Ineed to fill the '1040 C-EZ'(as I am individual contractor) to report to IRS, please correct me if I am wrong

Thanks in advance

[zaron]

Thanks for you advice MukatA...

Had a small question, my company asked me to fill W-9 form... (as a non citizen and on F1 with OPT)
What is the correct form to be filled instead of W-9

For my taxes, I understand that Ineed to fill the '1040 C-EZ'(as I am individual contractor) to report to IRS, please correct me if I am wrong

Thanks in advance

[MukatA]

Yes, you need to file W-7.