I got an offer having two choices, I can work as 1099 or W-2. If I choose W-2, the employer takes
money from pay check for employer SS and Medicare contributes (7.65%) and pays the rest. But employer doesn’t have 401(K) plan to contribute myself, I can’t put any in 401(K) to get tax benefits except $5,000 as Traditional IRA.
Given the choices which one is best for me to reduce taxes and make contributes to retirement plan at least save money for retirement. Please give suggestions.
Thanks in advance – KB
