My wife was hired on last year at an Independent investment firm as a W2 employee but the Advisor was not paying any of the employee taxes and she was paying 100% of them. She wants to switch to a 1099 Employee since shes already paying 100% of the employee taxes. Her salary is $60,000. From what I understand She's really only making approx. $55,000 since she has been paying all herself? If her employer was covering his half on a W2 employee she would actually be making more annually? And if she went to a 1099 she basically cut her pay down annually?
Thank you
Mark
