Timeline for State and Federal tax will be paid by the company
Current License: CC BY-SA 4.0
5 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Jul 23, 2018 at 17:01 | comment | added | user62847 | @Justin Cave: you're quite right. A contractor can also subtract commuting costs from income. I was focusing on income tax. | |
| Jul 23, 2018 at 0:58 | vote | accept | Alexan | ||
| Jul 22, 2018 at 6:08 | history | edited | Nobody | CC BY-SA 4.0 |
Bold the most important part of the answer.
|
| Jul 22, 2018 at 1:36 | comment | added | Justin Cave | You won't pay the same tax either way. If you're a 1099 contractor, you owe both the employer and employee portions of payroll taxes. W2 employees owe only the employee portion. That's one of the reasons that you need to make a higher hourly rate as a 1099 contractor in order to net the same amount in the end. | |
| Jul 22, 2018 at 0:36 | history | answered | user62847 | CC BY-SA 4.0 |