1099 Vs W2 while AOS

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march02485info

Registered Users (C)
All Gurus.

I got an offer to work on 1099 for short term ( 3 months) with Consulting firm and then permanent to Client after 3 months.
1) Will it affect my AOS if i work on 1099 with EAD.
I'm using my EAD from one year and most probably my 485 file will get touched by BCIS sometime April 2004 and I already earned the LC specified amount on W-2 for this year .

2) What would be the % of Taxes that will be paid out for 40/hour
on 1099.

Thanks
485Info
 
Need permanent job for EB GC

In case of an RFE. You can use AC21 and switch employers.
 
Originally posted by march02485info
All Gurus.

I got an offer to work on 1099 for short term ( 3 months) with Consulting firm and then permanent to Client after 3 months.
1) Will it affect my AOS if i work on 1099 with EAD.
I'm using my EAD from one year and most probably my 485 file will get touched by BCIS sometime April 2004 and I already earned the LC specified amount on W-2 for this year .

2) What would be the % of Taxes that will be paid out for 40/hour
on 1099.

25-27.5% + 7.5%(ssn medicare).

Thanks
485Info
Click to expand...


If you want save ,money ask them to pay 15 dollar as expenses and 30$-25 as salary . I guess they will agree, if your going thru a consulting firm, because they save lot of money .
 
Last edited by a moderator:
Hi Guys,

My Consulant company is paying 75% of the billing rate and from this 75 % they deduct $ 700 for medical and 10% for payroll taxes. Can someone let me know these are the standard deductions followed my most consultant companies.

Thanks
 
GC_SWIFT

I think you're with a good consulting company. They are disclosing how much share they're taking. Most of the companies won't even tell you that (and I'm sure they take a much bigger share). I would say 75% is good.
 
GC_SWIFT,

700$ for month is depends on the company to company. you can choose different plans, it purely depends on on helath and otherthings like how often you you will visit the doctor.

out of 10% payroll taxes 7.5% goes to ur SSN and medical , remaining 2,5% is for liability taxes.


Hope it is cleared
 
Who got the project? How do you know it is 75%

Originally posted by GC_SWIFT
Hi Guys,

My Consulant company is paying 75% of the billing rate and from this 75 % they deduct $ 700 for medical and 10% for payroll taxes. Can someone let me know these are the standard deductions followed my most consultant companies.

Thanks
Click to expand...

If it is true and they got you the project 75% is good, but should be 5% or lesser payroll taxes.
 
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