What is a 1099 vs W-2 Employee? – Napkin Finance
What is a 1099 vs W-2 Employee? – Napkin Finance
Jun 21, 2022
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Most people don’t actually understand the difference between being a W-2 employee and a 1099 contractor… and it can cost you thousands every year. Here’s the simple version👇 🎯W-2 = Employee You work for the company. Taxes are taken out automatically. And you typically can’t deduct most work-related expenses. 🎯1099 = Independent Contractor You work with the company, not for it. You’re essentially your own business — meaning you can deduct far more expenses, like: - Travel - Phone & internet -
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