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1099 or W2 which is better for employee Form: What You Should Know

Employers usually use 1099s as a lower cost alternative to full W-2 status, but are you more than a freelancer? 5 key areas of difference between 1099s and W-2s.

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Video instructions and help with filling out and completing 1099 or W2 which is better for employee

Instructions and Help about 1099 or W2 which is better for employee

I'm here with Dijon from Out. Isn't telling you guys have had thousands of jobs run through your company over the last 2025 years, right? Right. Tell me about some of the legal stuff I need to know. First, what is a 1099? A 1099 is somebody that, at the end of the year, gets a 1099 from the company they worked for, meaning they're truly an independent contractor and there are no taxes being taken out of the check that is being sent to them. Okay, that sounds good. I like to know taxes, power, right? Again, I'm fresh to this country, and I'm not clear on a 1099 versus a W-2. What is a W-2 and how is it different, or is it the same thing? Well, the W-2 is your record employer. So if you work for someone, let's say you're a 9-to-5 person, you're gonna get a W-2 at the end of the year from your employer. Okay. As a freelancer, though, you can also receive a W-2 depending on your relationship with your client. Okay, cool. So once more, for freelance, and once more for full-time, yeah? And the W-2 is when taxes are taken out of your paycheck. Okay, so how do I know if I'm a 1099 employee? How do I know if I need a 1099 form? Well, if you don't know what a 1099 is, you really shouldn't go down that path. So, however, to get a 1099 from a company, you truly want to be an independent contractor, meaning that you have your own business, you have your own clients, and you're not really relying on one particular client to give you the income for your year. Okay, I've heard something like it's sort of like the 80/20 rule. If...