The best way to think about the 1099 is that it’s illegal for the company, not the employee.
If they were, due to happenstance, perhaps, be audited by the IRS, they would owe the IRS taxes on your behalf as well as their own account.
Found a Potential Driving Opportunity
Discussion in 'Questions From New Drivers' started by RickS331, Jan 22, 2020.
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You do NOT want to be audited by the IRS.
IF you were or had trouble with them and cannot stay current they will take the house, assets, bank accounts and so on all the way up until you cannot function in our economy. Again you do not want to be audited. One of the defenses to that is have a good accountant that knows whats involved in taxation with 1099.
Ive always been a W2, just a few extra deductions and roll. In the end SSA pulls my lifetime earnings and that would determine what benefits amounts are paid out when the time comes. -
rachi Thanks this.
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Sometimes it doesn't matter what you do, or how safe you think you're being. -
Technically, you don’t have to make quarterly estimated payments the first year, but you have to after that.
@REO6205 is also correct, you should carry health and disability insurance. It’s part of the reason the 1099 gig isn’t as attractive as it looks at first glance. -
Well this thread is moot now. Just got texted back that they "decided to go a different direction" this is overnight after I asked a lot of questions about operations and whatnot.
"Also insurance didn't budge". I dunno what else I can to do expunge a false mark off of my MVR or to clean up with DAC Werner gave me. -
Keep looking; there's plenty more jobs out there where you can be hired. -
Chinatown Thanks this.
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