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HeatherB

How do you earn the majority of your income?

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I guess "the government" can be substituted for "a company", right? Well that's how I voted at least.

I'm a biomedical engineer for the FDA during the week. (W-2 earner)

I'm a tandem instructor on the weekends, so I "own" my own company, aka myself. (1099'er)

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What does W-2 and 1099 mean? If this an country specific thread?[:/]:P



W-2 and 1099 are the names of forms used to file income tax.

W-2 - used when you work directly for a company as an employee. Usually accompanied by benefits such as sick time, disability.

1099 - self-employed. work for yourself. have to keep your own books, pay for own programs for sick and disability.

I am self-unemployed.

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I am self-unemployed.



For some reason I flashed to this scene from "The Big Lebowski"

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Younger Cop: And was there anything of value in the car?
The Dude: Oh, uh, yeah, uh... a tape deck, some Creedence tapes, and there was a, uh... uh, my briefcase.
Younger Cop: [expectant pause] In the briefcase?
The Dude: Uh, uh, papers, um, just papers, uh, you know, uh, my papers, business papers.
Younger Cop: And what do you do, sir?
The Dude: I'm unemployed.


Stupidity if left untreated is self-correcting
If ya can't be good, look good, if that fails, make 'em laugh.

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What does W-2 and 1099 mean? If this an country specific thread?[:/]:P



A W-2 means that a company admits you work for them, pays unemployment insurance, covers the taxes which don't show up on people's pay stubs which would make us worry about tax rates, and withholds state and federal taxes from you.

A 1099 is proof that a company paid for services from another company (potentially a sole proprietor) and indicator to our government that they should see that revenue reported on that the payee's tax forms.

It gets complicated with individuals, but generally employees do what you tell them how you tell them while contractors are merely providing services with the details of their choosing. A contractor could choose to work from home, noon to 9pm, with some work sub-contracted to off-shore vendors. A manifest worker who sits in an office sunrise to sunset is not a contractor.

Companies sometimes abuse the system, paying "employees" on 1099 forms. The government does not like this because its easier to have taxes withheld up front than trying to collect from some one who no longer has the money and means that some people aren't being covered by unemployment, disability, retirement, and life insurance.

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and when business is slow I sell crack



And your place is conveniently located near a high school. Nice thinking, you don't even have to go out of your way! :P
She is Da Man, and you better not mess with Da Man,
because she will lay some keepdown on you faster than, well, really fast. ~Billvon

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I'm a full-time technical writer but I suppose it's possible that I could get fired for postwhoring too much while at work. In that case I will probably offer my sexual services to the ladies of dz.com and, if I really commit myself to that line of work, will die a horribly slow death from starvation.:D:D:D

Walt

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Started working for other good companies and learning from anyone who could teach me, when my baseball carreer fizzled out. It was fun while it lasted.
Now own a controls company that automates power plants, industrial sites, and large buildings worlwide. Also have a smaller company in USA in heating and cooling. It sometimes gets in the way of jumping, but i gotts pay the bills. i am an aspiring pimp, but the HO's always slap me!
So i just broke up with this woman who wasn't even my girlfriend!

Hellfish #782, POPS #10664

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I work in EMS wich is pretty low pay, but right now I am a full time student with NO pay really to speak of.
I also do some rigging on occasion but I give all the money I make off that to animal shelters, so I guess thats pretty much why I am broke right now.
But the way I see it is that dogs can't work and they need food and if I can only help a few that are at shelters then the I am good with skipping a meal here and there.
www.greenboxphotography.com

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