Ok thank you
Yeah we know something is off for sure. She was supposed to be making $60,000 gross as a salary. She works for just a single financial advisdor at an independent office. I don't think he was too savy on the pay and when the accountant got her paid he didn't realize that he was to cover half of the social security and medicare taxes. I think this guys accountant leaves alot to be desired.
So to make up for it the accountant started pulling all of it from my wifes pay. He only wanted a total of $60,000 being paid out annually. So now it looks like a $55,000 annual pay. She is supposed to be buying his portfolio in a year or so and would be required to switch to a 1099 then.We know that if she switches to a 1099 she would be paying all of social security and medicare anyways. Is there any benefit to her deduction wise to be paying all of it?
Thanks
