Hello All--

I am also in the same boat. The vendor I am working for stated paying me on 1099 ( I was totally unaware of it). Later I found out that by doing this they would save same money. While it is true that I will get paid the gross amount (i.e., hourly rate*hours work), I think the year-end would be pain in the rear because of all taxes that has to be filled in by me.

I am Texas resident so I will only be paying Federal ( no state taxes) and no ss and medicare. Given that I will only make about $27K (because I know I won't be working these guys for long time). What would I be paying the EOY?

I have already been paid 4 pay checks. It is now feasible for them to switch to w2?

Can I have numerous W2s and 1099s on a single tax year? And if yes how's it going to effect the tax calculations (rate and all )?

Thanks in advance.
Laalom