I've in the middle of an offer for employment. During negotiations, I've asked for more money due to distance involved (Further by far than I'd normally consider, but the pay raise I'd get is basically double what I'm making now).
Lets say I was offered $45 an hour as a W2 employee. They said they are moving offices and it's further away from "home" in the near future. I said that I need more money (Time + gas) to compensate.
The response is basically "We have a ceiling of $48 an hour for W2 employees... but we can go $50 for 1099."
I've never dealt with being a 1099 employee. What benefits and pitfalls should I be aware of? I don't know what questions to ask or where to start. What will I gain as a W2 employee, at a smaller paycheck? 1099 at a marginally larger paycheck?
Ultimately, the question is given those two options: $48 W2 vs $50 1099, what should I choose and why? I'm not averse to going "contractor" but it's a new area and I don't want to screw myself over on a marginal difference.