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Finding jobs on H1B –Different Employment Types and Tax Implications

Finding jobs on H1B –Different  Employment Types and Tax Implications.

Firstly  below are the employment types available in the job  market . Lets look at them in detail.

Corp-to-Corp – As the name suggest  employer /corporation would prefer to work  directly with another corporation. The biggest reason why a corporation prefers this type of employment is to  avoid the potential liability that might exist in dealing with an independent contractor on a 1099 basis. Individuals can incorporate to these corporations and then work with the respective employer.

 

Independent  Consulting– The employer is willing to hire a temporary employee on either a 1099 or W-2 Basis.

1099 Employee/contractor  – A 1099 employee/contractor  is in most cases a temporary employee. They are not required to  complete a W-4 or have the employer withhold taxes. They are responsible for paying their taxes directly to the IRS. The IRS requires that the employer report the earnings paid on a form 1099.

W 2 Employee :  – A W2 employee is an employee whose taxes are withheld by the employer and whose earnings are reported to the IRS via a W2. The W2 employee completes a form W-4 when they start the employment to notify  the employer on how much  to withhold taxes.

 

As an H-1B Visa holder, you should look out for job opportunities as FULLTIME else  Corp to Corp (c2c).

ALL JOB Posting Will have the either of below  job type and Tax details defined.

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