W2 form?
Out of context: Reply #3
- Started
- Last post
- 5 Responses
- k0na_an0k0
if you are planning on freelancing with them for a while there are one of two things they will do.
either a w2 where they take taxes out for you.
or a 1099 where you pretty much just get paid in cash, no taxes. BUT. one of two things will happen with this. 1) the worst. they send you a w2 at the end of the year and you have to file taxes on whatever you made which means you'd better have $ in the bank cause you'll have to pay. for #s sake lets say you make 2000 and at a 10% tax you owe 200. but the #s will be way different. 2) the best way. they don't send you a w2. now, if you only made say a few thousand, getting paid under 3000 at a time you many be able to get away with not paying taxes on it. by law a bank has to notify the gov for any deposit over 2999 in a two week period. so if say you're making 1500 or 1000 each time for even 5 weeks you may be ok. but you're kind of playing with a loaded gun you know what i'm saying.
good luck.