Is working for a company on a 1099 averaging about $8.00/hr better than work making $20.00/hr at a regular job? What are the advantages of being a 1099 at $8.00/hr?
#wordsofadvice #careeradvice #interview
There is no advantage to work for $8.00/hr. vs. to work for $20/ hr. As a matter of fact, the regular job may be much better if the employer has health coverage & a matching retirement benefit in your package.
Don't settle for Broke..u deserve your worth!!
I just hate when people take advantage of what others don't know🤬
No. 1099 is an independent contractor. That means your employer isn't paying benefits or taxes like they would on the $20/hr position. $8/hr for 1099 is you getting screwed IMO.
No it is not. You can not survive at the end of the year you have to save and pay taxes off of 1099, you can not live and save off of that.
Sometimes it’s not always a good idea to volunteer information. You were correct with their assumptions. If there are two versions of a program and it wasn’t clarified. Again assumptions in interviews are not good.
Self-employed is a higher tax bracket you pay more in however you want to handle Uncle Sam it's your call
.. if you're working on commission your employer boss so-called will turn in the money to the IRS Uncle Sam on how much you made however if you keep all records stating how much you make you it is up to you to record and to make accuracy of what you put in and what you put out thank you 🙂
$20 /hour is absolutely more money in pocket than $8 could ever be non-taxed.
The only behooving position with the 1099 is if you are a sub contractor, making a subcontractors wage. Otherwise you are benefiting only the companies best interest by not having to deal with taxes, work comp insurance if you ever got hurt at work and any kind of reimbursements that may arise. Using your car for the position, getting hurt on the job. Gas for your vehicle, overtime pay.
1099 does not benefit the worker if not a sub contractor working on your own terms and pricing.
C-10 Electrical contractor.
Don’t forget you’ll need to get a business license. May need Workman's comp if you hire a certain number of employees. Then, there’s general contractors liability insurance you have to get. Then, all that takes time and money. And depending on how much money you “pretty much guess” your first year, you may need to take a general contractors test. You have to buy an up to date general contractors study guide and take a test that you pay for. There are so many things to do to start a business.
I sincerely hope this helps.
Sherrie, Working as a 1099 contractor for 8.00 hr. Complicated to explain on a message board but who ever told you that lied big time.
As an accountant, and having done the math, working as a 1099 contractor for 20.00 an hr. is approximately = to 17.00 an hour.
Hourly rate - 25