10 ms·
LLCs and S-Corps are useful for their flow-through taxation. It's not a big deal if you're 1099'ing a contractor running their own business, no? When I did si
by itchyouch 10y ago
LLCs and S-Corps are useful for their flow-through taxation. It's not a big deal if you're 1099'ing a contractor running their own business, no?
When I did sidework, the side gigs all 1099'd me.
- jedberg 10y agoIt's fine if you do side gig's 1099. But if I have someone doing full time work for me where I set the wage, that's not a contractor anymore according to the IRS and they get really suspicious when your "contractor" has worked for you and only you for many years.
- mooreds 10y agoThe levels I've heard from bigger companies I have worked for is 30%--they didn't want to provide more than 30% of my income via 1099 contracts because more than that would raise "he's not a contractor" warning signs. On the other hand, I worked for a smaller company as a 1099 contractor and was billing up to 67% of my yearly income to them. In both cases I set the rate and determined my time off.