I work for a small sourcing company, salary. I am currently working full-time for their largest client, but have asked for extra hours on smaller clients if possible.
I was granted such and was given the decision to take the extra money, +5 hours a week, as a bonus check or 1099.
Is one method better than the other? (in terms of paying less taxes)
- I have my own freelance company (founded before I began with the sourcing company) that I could get them to 1099 if that is better than a personal 1099
- Based on the new 2018 tax brackets, I will land in either the single family 22% or 24% bracket