We been a corporate this past year, and even though a number of people try helping me in various capacities, I have zero staff. Both people that work closely with me on a continuing base was partners, and all the remainder was independent designers chosen to complete particular tasks for a certain number of money. At the conclusion of the entire year, I post all of them (therefore the Irs) an excellent 1099, which is the specialized mode familiar with facts package-situated income. We have never ever delivered an effective W-dos, the function one to goes to employees, and not propose to.

Since i zero professionals, I am not saying a manager, for example I avoid being required to withhold and you can shell out worker income taxes owed the newest Federal, condition and possibly regional governing bodies. I additionally prevent boss taxes, plus Societal Coverage, Medicare, and you will State and federal jobless taxation. Continue reading →