Full Time RV living as a S Corp/1099 employee
First post here so thanks for any and all opinions/comments! Long story short, I have the opportunity to sell my home and buy an RV to go travel full time while working in a virtual job. Timef...
Forum Discussion
4x4van wrote:
Just keep in mind that, as a 1099, YOU will will likely be responsible for the payroll taxes that your employer normally would pay. Been there, done that.
Yes, if switching to 1099, make sure they increase your hourly rate sufficient to cover insurance, the employer side of social security (currently, you pay 6.2% and your employer pays 6.2%...as a 1099, you will pay the full 12.4%)
Been doing this for about 15yrs:
- I'm still an employee as I'm at a large company and they don't have a good option for 1099 plus they cover insurance and a good 401k system.
- Tammy is a 1099 (no corp). As others indicated, looked into it and with negligible liability risk, saw no real advantage.
