Re: QUESTION: Hourly Rates

Subject: Re: QUESTION: Hourly Rates
From: Barb Philbrick <caslonsvcs -at- IBM -dot- NET>
Date: Mon, 20 Jul 1998 13:11:48 GMT

>We don't have a "W-2" or "1099" contract, and I'm not really sure what they
>correspond to.
W-2: Means the client or agency takes federal, state, and local taxes
out of your paycheck. The client or agency is responsible for all tax
filings and must send you a W-2 statement at the end of the year
reporting the tax withheld.

1099: You are responsible for your own taxes. Depending on the amount
of money you make, you might have to make quarterly tax filings.
Clients must report any earnings over $600 per year on a 1099 form to
you and to the federal government.

Incorporation: You (as the corporation) are responsible for all of
your own tax withholdings and filings. The client has no
responsibilities to report your earnings to the government.

Hope this clarifies!

Barbara Philbrick, Caslon Services Inc.
Technical Writing. caslonsvcs -at- ibm -dot- net
Cleveland, OH

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