View Full Version : W-2 only?

09-03-2008, 01:28 PM
I'm job hunting today and am noticing a bunch of "W-2 only" positions. What does this mean exactly? One says "W-2 no 1009". Does this mean they only want real employees and not consultants? And for an ounce of prevention, know any good site for a glossary of this sort of job lingo?

09-03-2008, 01:29 PM
Yes, that means they are hiring employees. (I'm guessing you meant 1099, not 1009)

09-03-2008, 01:59 PM
To expound a bit more: as a W-2 "employee", your employer pays the employer half of the FICA (Social Security, Medicare taxes). If you were a 1099 contractor, you would be responsible for paying both halves.

I air-quote employee because often you may end up getting no more benefits than a 1099 contractor, other than the half-FICA, depending on the firm.

IMO, you're better off as a W-2 since you don't (at least directly) pay the employer share of FICA, but if you have business expenses to write off, then a 1099 basis might be better. These are generalizations; YMMV.

09-03-2008, 02:29 PM
Even if you are hired as a consultant on a project, if you are hired through a consulting firm the chances are good that you will still be a W-2 employee. You will officially be an employee of the consulting firm, who will withhold taxes and provide insurance and other benefits.

Some consulting firms may give you the choice, or if you apply directly as a consultant to the company you would be working for, you would be a contractor, or 1099 employee. As a contractor, you would get a 1099 form instead of a W-2, which means that you would be responsible for "self-employment tax" (IRS-speak for the employers share of FICA and medicare tax), and you would be responsible for your own insurance and other benefits.

Best Topics: milliwatt hours weedeater boat motor squeaky power steering walgreens omeprazole ticklish nipples walmart rat poison spyder definition turktrust elektronik certificate sirius listen nite owl batman warm delights discontinued banks orbital baingan bharta calories poly coats lithograph vs serigraph boondock saints tattoo definition friggin keg bucket buy anti matter rodney dangerfield dive myspacemusic player mojito without mint hokkaido accent hydrangea lowes buying used mattresses spam etymology dflat tuning is drowning painful fez good day chicks for free buy poppies umlaut i guinea pig tumor grecian 5 beard funny war cries r'lyeh quote replace fillings yes roundabout lyrics meaning 70 watt hps led equivalent do mach3 blades fit fusion potassium chloride pellets home depot how many miles to go around the world why does matter exist solar powered car cooling magic deckmaster cards value starting a car that has been sitting for months an employee in your department how to clean rusty sockets how to pronounce summa cumme laude why do race cars have wide tires what does gloria in excelsis deo mean in english what is a cotton picking minute does the vice president salute where can i buy non iodized salt am i hungry or sick received mail that isn't mine message for someone having surgery toyota brake replacement cost bite of the apple i'm sorry john denver foods to fatten up a cat enlisting in the air force with a bachelor's degree what can i take for heartburn while on warfarin spicy food and diarrhea colored dry ice smoke what is the song lido shuffle about test christmas lights with multimeter big lots return policy chicken in a bisket