My question involves employment and labor law for the state of: CA
I had a meeting with my employer, in which I asked for a significant increase in my wages. The employer agreed, but wanted to wait about 1 1/2 months to work out the budget and new job description/duties. I agreed.
I have been told to expect a proposal next week. Thus far, I know the employer wants to switch me from hourly wage to annual salary. I have always been paid hourly, so I am not that familiar with the pros/cons between the two. It is my understanding that I will want to ask my employer to continue paying my federal and social security taxes, or make arrangements to pay these taxes quarterly. I am thinking I also want to make sure I am paid monthly, but I am not sure if there is a downside to being paid bi-weekly as I am now.
So my questions are, what types of things do I want to make sure are in this contract, and what things do I absolutely want to avoid? I was told instead of getting a w-2, I will be getting a 1099 and will essentially be a self employed/contracted employee, is that correct? I understand that I should keep track of business related expenses for tax purposes, any other advice on what I should know as a 1099 employee?
Thank you!
I had a meeting with my employer, in which I asked for a significant increase in my wages. The employer agreed, but wanted to wait about 1 1/2 months to work out the budget and new job description/duties. I agreed.
I have been told to expect a proposal next week. Thus far, I know the employer wants to switch me from hourly wage to annual salary. I have always been paid hourly, so I am not that familiar with the pros/cons between the two. It is my understanding that I will want to ask my employer to continue paying my federal and social security taxes, or make arrangements to pay these taxes quarterly. I am thinking I also want to make sure I am paid monthly, but I am not sure if there is a downside to being paid bi-weekly as I am now.
So my questions are, what types of things do I want to make sure are in this contract, and what things do I absolutely want to avoid? I was told instead of getting a w-2, I will be getting a 1099 and will essentially be a self employed/contracted employee, is that correct? I understand that I should keep track of business related expenses for tax purposes, any other advice on what I should know as a 1099 employee?
Thank you!
Compensation and Overtime: Conversion from Hourly Wage to Annual Salary
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