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  • #1

    1099 Benefits

    Hi all,

     

    I was just wondering what some of the benefits of receiving 1099 income are?  Does it allow you to start an individual 401k?  What are the downsides?  Do you have to pay your own payroll/Social Security taxes etc?  Thanks!

     
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    • #2

      lernd wrote:



      I was just wondering what some of the benefits of receiving 1099 income are?  Does it allow you to start an individual 401k?  What are the downsides?  Do you have to pay your own payroll/Social Security taxes etc?  Thanks!
      Click to expand...


      Yes and yes. Start by reading 6 Huge Benefits of IC Income.
      My passion is protecting clients and others from predatory and ignorant advisors 270-247-6087 for CPA clients (we are Flat Fee for both CPA & Fee-Only Financial Planning)
      Johanna Fox, CPA, CFP is affiliated with Wrenne Financial for financial planning clients

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        • #3
          Thanks!

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