The Cash Flow Contractor
Trailer
Bonus
Episode 118
Season 1
118 - The Difference Between 1099 Contractors & W2 Employees
- 00:00 - Intro
- 01:20 - The Conveniences For Both
- 02:00 - So, Which One Is Right?
- 02:40 - The Penalties On W2s
- 03:35 - What The IRS Says
- 04:20 - The Hidden Things You Need To Be Aware Of
- 06:30 - Miscategorized 1099s
- 07:15 - It’s Your Choice, But It Could Be Very Costly
- 08:00 - Outro
Quotable Moments
- “1099 contractors only require one check, there’s no tax deposits, and there’s no payroll tax.” – Martin
- “Go look at what the IRS says about that. Read the IRS procedures form called an SS-8. It’s the determination of worker status for purposes of federal employment taxes and income tax withholding.” – Martin
- “What is the likelihood you can lose money? Are you at financial risk? A contractor is. They give you a bid and can lose money if they blow it. A 1099 isn’t.” – Martin
- “This is a really important topic and it can be fatal to your business if you get it wrong.” – Martin
Resources
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