ramesh gupta

 Profile Answers by ramesh gupta 

• Jun 28th, 2008

 

Contract - Corp to Corp
 that means that you have your own company and client company will make payments to your company for the work you do.
They will pay a flat rate, such as $50/year. And you would get paid from your company either as 1099 or W2 as described below.

Contract - Independent
Client company will directly pay you on hourly basis. They will give you 1099 at the end of the year for the money they paid. You are working as a contractor. They will pay a flat rate, such as $50/year and you are responsible to pay all your taxes such as social security tax, medicare tax (employee and employer portions.)

Contract - W2
You are an employee of the company. You will get salary. Additionally, you may get health insurance, holidays, vacation and other benefits