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CORRECTIONS RE: QUESTION: W-2 vs. 1099 Hourly Rates
Subject:CORRECTIONS RE: QUESTION: W-2 vs. 1099 Hourly Rates From:"Wilcox, John (WWC, Contractor)" <wilcoxj -at- WDNI -dot- COM> Date:Tue, 23 Dec 1997 09:37:00 -0800
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From: Wilcox, John (WWC, Contractor)
With the 1099, you'll have to pay the following yourself:
6.2% your share of FICA
8.2% what should have been the company's share of FICA
1.45% Medicare
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I just double-checked with my agency's payroll department -- sorry,
should have checked first -- and found the laws have changed since I
used to payroll myself. Now it's an exact company match on both the
FICA and Medicare. So now it's
6.2% your share of FICA
6.2% what should have been the company's share of FICA
1.45% Medicare
1.45% what should have been the company's share of Medicare
Regards,
John Wilcox, Documentation Specialist
Timberlands Information Services, Application Delivery Group
Weyerhaeuser, WWC 2E2, Box 2999
Tacoma, WA 98477-2999 USA
253-924-7972 mailto:wilcoxj -at- wdni -dot- com
(I don't speak for Weyerhaeuser, and they return the favor.)
