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Can someone explain

By CuteElf ·
What a 1099 C to C is?

Someone sent me an email offering a 3 month temp job...$5more per hour if it's a 1099 C to C. Would that mean I'd be doing the taxes/payroll in it?

And can I get some advice on being a gypsy....hopping to and from tempjobs? I dont have the first idea on how to do it. Especially with a cat..and a big tv.

Please, advise.

Cute

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Gypsy planning

by gadgetgirl In reply to Can someone explain

Cute! What happened to the job? I thought you'd just got there? (and btw, fingers crossed for the job in BFilmfans direction....)

The only way to succesfully "gypsy" yourself is to plan hard and long. Numerous reasons for doing this, but the main ones are that you know where everything is, and you don't need to buy duplicates of things you already have; just not with you.

Start making lists. (I suggest for ease of reference and mobility, you get a notebook for this; keep it with you at all times)

Depending on how long you're going to be mobile for, you may want to invest in some decent storage for your larger items. There's no point in carting around things that are not absolute necessities.

If you pack anything away into storage, number the crates, and put in the notebook EXACTLY which items are in which number crate.

For the items you need to transport, do the same with smaller boxes. In this case, lots of small ones are better than one or two huge - less to look through if you're trying to locate a specific item.

From the personal items point of view, try my tried and tested "pick it up and go bag" system. Large cosmetic bags are great for this - if you're not trying to co-ordinate colours its better, different colours, different uses. One bag just for washing (soap/facial wash/face cloth, toothbrush/paste/deoderant etc.) Another for showering (shower gel, body lotion, body glove, small deoderant etc) Another for hair (travel drier, mini shampoo, conditioner, styler, hair spray etc.) I'm sure you get the idea.

For emergencies, keep a set of clean clothes in a separate bag/holdall to the rest. If a case bursts open into a mudpuddle, you still have something to wear (and yes, it HAS happened to me!)

Anything of value (jewellry, keepsakes etc) leave with the bank/trusted friend/relation for safekeeping. Don't take anything valuable on the road.

I would seriously think about leaving the big tv behind - not only is there a liklihood of damage, it's probably going to take up more space than you need it to. And cat fur ain't that good inside tv's (speaking from experience here, too)

As for pusscat - before you even think of setting off, make sure the cat is chipped, if it isn't already. If it is, make sure the register has your cell number so they can always contact you.

You need to do a cat-bag too - emergency water in container, unbreakable food dish, resealable pack of treats, and a spare can of cat food/pack of dried food. Don't forget worming tablets and flea meds should be in there, too.

oh - and invest in a reflective collar. And a bell, if the cat doesn't object (mine did - used to fling collars across the room if they had bells on 'em!)

Keep your personal documents with you at all times, and find a safe place to stash any other items that would be tricky to replace. Depending on how long you're going to be on the road, you may want to consider making photocopies of important documents, i.e. passport, drivers licence, training certificates, cv, birth cert etc.

Bear in mind this is going to have to be done from a minimalist perspective - if you're travelling by car, remember you'll have to decamp everything from the car into your room for safety, every time you move location.

I'm still thinking on this, Cute, that was just basically a brain dump on my part. If I think of anything else, I'll be back! Let me know how you get on, though.

Best of luck

GG

(Hey, just thought - you're having Xmas at home first, right?)

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I saw this and thought of you.....

by gadgetgirl In reply to Can someone explain

thought this may give you a few more ideas! (and cheer you up too!)

Ironic that I'd just posted that ream of ideas to you, and the first thing I came across immediately afterwards was this....

http://news.bbc.co.uk/1/hi/england/london/4507072.stm

Enjoy!



GG

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1099 is making your own tax payments plus extra Social Security

by stress junkie In reply to Can someone explain

Yes Virginia, 1099 means making your own tax payments. Plus you get the pleasure of making the "employer's contribution" in your Social Security taxes, which doubles your S.S. tax. IT'S NEVER WORTH IT. I only worked 1099 twice in 15 years of contract work. It was such a pain that I would always suggest NOT doing it.

I never heard of C to C. I've heard of temp to perm.

Read my blog for other financial ideas for contract employees.

Lastly, since I don't know where you live I can't really speculate about moving your residence for jobs. I never moved my residence for a job but I live in Massachusetts. I had one job in Denver that lasted a couple of months. The problem with that was paying my bills. The USPS will only hold mail for 30 days. If you get a post office box you still have to have someone pick up the mail and pay your bills. Big problem. If you live in hotels, as I did in Denver, you always eat in restaurants, live out of a suitcase, only have a small part of your wardrobe availble to wear, never get to listen to your own music collection on your own stereo, etc. ad nauseum. In short you don't get to enjoy the fruits of your labor. You are one place and your toys are somewhere else.

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1099s and C-to-C

by softcorp.us In reply to Can someone explain

W-2
For review: Getting paid by W-2 means they will withhold all of the appropriate taxes and give you a W-2 after the end of the year.


1099
Getting paid by "1099" means they will pay you as an independent contractor and will not withhold any taxes. You must pay all of your own taxes (income tax, social security (6.2+6.2%=12.4%), medicare (1.45%+1.45%=2.9%), federal unemployment, and the corresponding taxes for your state). You will receive a 1099 form from the company after the end of the year instead of a W-2 form like an employee would. They also send the 1099 to the IRS. Note: You will typically need to make tax deposits every quarter, penalties and interest if you don't.


C-TO-C
Getting paid "C to C" refers payments made between two corporations. In that case, a "1099" form is not required. Each corporation is responsible to report its own income (the contractor) and expense (the client). If your consulting business is not incorporated, this would not apply to you.

There are some extra hassles to being in business like you are considering doing. Spend the time to learn it up front and it won't be any problem after that.

Best of luck to you!

-----------

P.S. Bring the cat for companionship. Leave the big TV at home. Stay in a nice hotel where you feel safe.

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Hmm

by CuteElf In reply to Can someone explain

I live in Alaska, and the job is in Minnesota. I'm still trying for Arizona, but the MN job is NOW and $$.
I was thinking last nite about this..I'd have to pay rent for my apt whilst I'd be gone, leave my stuffs here. Rent/stay in MN, take cat, mebbe puter w/ me...lot of work.
It might not be worth it. I want to relocate- but not for 3 months.
Cute

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Read my blog

by stress junkie In reply to Can someone explain

I started to put together a guide to contract employment in my TR blog. I haven't worked on it in a while but it has some useful information.

Here are a couple of quick rules:

Don't work 1099. Always be a W2 employee to your contract house.

Don't believe contract houses when they say that they will keep you working. You will always need to contact all of the contract houses that you can find when you are in between jobs.

Live below your means. Keep a lot of money in the bank. You never know when an 8 month stretch of unemployment will befall you.

To answer your questions:

Yes Virginia, when you work 1099 you will do your own tax withholding and you will make the employer's contribution for Social Security (if you are working in the United States). Keeping the money aside to make your quarterly withholding payments requires a lot of discipline. In fifteen years of contract employement I only accepted two 1099 jobs. They were a lot of trouble from the record keeping and tax withholding point of view.

I recently found out that C to C means corporation to corporation.

Avoid travelling. Answer these questions before you take a job that reqires you to leave home for weeks at a time. How are you going to pay your bills? Who is going to pick up your mail?

If you have to accept a job that is located far from your home then you have to consider the cost of living in a motel or apartment in addition to keeping up paying the bills for your main home. Living out of a suitcase stinks. You never get to use your favorite stuff like your big screen television or your awesome stereo because you aren't at home. Restaurants get tiring and expensive. You can't see your friends. Generally taking a job away from home eventually gets to be unpleasant.

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