W2 vs 1099:
Currently I'm a "Self Employed Contractor" on a 1099 contract to a large oil company.
Recently got a phone call about a new job. New company only offers an hourly W2 rate.
Assuming gross pay is the same... and waiting on my accountant...
What do I need to consider? I'd lose all my write-offs I presume (which in reality is only travel, cell phone, internet, home office, so not a ton, especailly given my travel cost would cut by 90% on the new gig).
Currently I'm a "Self Employed Contractor" on a 1099 contract to a large oil company.
Recently got a phone call about a new job. New company only offers an hourly W2 rate.
Assuming gross pay is the same... and waiting on my accountant...
What do I need to consider? I'd lose all my write-offs I presume (which in reality is only travel, cell phone, internet, home office, so not a ton, especailly given my travel cost would cut by 90% on the new gig).