Work on 1099 or W2 ?

A

ark-r

Registered Users (C)
I'm on GC now working for my employer who processed my GC. My present contract is getting over by this month. I'm getting calls from the recruiters by asking if I'm ready for either W2 or 1099. I know the basic difference between these two . W2 the employer with held the tax and 1099 they dont and we need to pay quarterly. My question is Do I need to have a corporation to work on 1099 ? can I work on 1099 without having a corporation ? Please give me an answer.

Thanks in advance
 
Thanks JoeF !!

Does it require any paperwork ? I mean do i need to have a tax-id for this ? I'm still not clear about this. I know many people are working like 1099 and I asked couple of them they said they dont have a company and are pretend like they have a company and self employed. Is that the way it supposed to ? or leagaly we should register a business entity with Govt with tax-id etc ?

please give more details.

thanks
 
Thanks a lot JoeF

Cleared all my doubts. but came a new a question. If I'm self employed without registering as a corporation(no taxid), can I put all my expenses in the schedule C ?


Thanks !
 
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