Considerations when faced with an employment arrangement that allows you to choose between W2 employee or 1099 contractor. How to make that decision.
executives retire from their positions and become consultants. As do business owners when they sell their businesses. What are deductions we proactively consider now that we are 1099...
Tips and suggestions for helping a business owner qualify for a mortgage
I work exclusively with medical professionals and this is the most commonly asked question. Many want to work as a PRN (per diem), especially if they have access to workplace benefits via spouse or significant other. Taxes to pay, deductions to take, retirement plans options, insurances required. I think 2 resources would be helpful. 1 as a decision tree to choose w2 employment vs Independent Contractor. 2. a checklist of all financial planning decisions a 1099 has to make.
like this: https://www.schgroup.com/wp-content/uploads/2018/07/Tax-Small-Business-Checklist.pdf
"Closeley Held Business/Professional Practice Owner" (suggested by Windward on 2019-07-16), including upvotes (2) and comments (0), was merged into this suggestion.
"Qualified Small Business Stock Checklist" (suggested by Judd on 2020-10-21), including upvotes (1) and comments (0), was merged into this suggestion.
"Qualifying for a Mortgage as a Business Owner" (suggested by Jacquelin on 2020-07-20), including upvotes (1) and comments (0), was merged into this suggestion.
"Am I eligible for home office deduction, especially in COVID era" (suggested by Angie LaRosee on 2021-03-17), including upvotes (1) and comments (0), was merged into this suggestion.
"W2 vs 1099 pay" (suggested by William Nunn on 2020-01-31), including upvotes (4) and comments (1), was merged into this suggestion.
"Becoming a 1099 earner? Deductions you will want to proactively track" (suggested by shannon moenkhaus on 2020-04-21), including upvotes (3) and comments (0), was merged into this suggestion.
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