My new job said they pay 1099 and asked if i’m ok with that. I have no idea what that means or the difference it makes. From what i’ve read it seems like I will have to pay everything back during tax season? I’m so confused. This is a receptionist job paying hourly wage. Please explain
In: Economics
It’s illegal for a normal hourly position to be 1099ed. But basically it means that:
a) you have no protection for workman’s comp, unemployment, etc.
b) you’ll pay double the taxes that you would normally because you are on the hook for the employer portion that the employer would normally pay.
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