It's one of the biggest companies. If W2 is ending up better for us (half taxes), the weird part is company is willing to increase the W2 portion, but not the 1099 (untaxed) portion! So weird...
Yes, I meat my former company. I didn't own any company!
So big companies have a portal to submit ideas for patentability. I submitted my ideas there. They is the company.
Well, I don't have an attorney. That's why seeking help here.
Yes. I invented something while I was employed at the company. I had no contract about ownership. I submitted the idea to the company innovation portal. So not sure if it's my name or company name.
I submitted a good patent application with my *previous* company which they terminated me brutally. And now as a part of patent filing, they sent me an "assignment" file to sign which has weird terms to me and I never had an experience with signing such a file (I was going to sue the company so...
They didn't mention anything. Just dividing all into 2 halves.
I'm getting confused again...why "save about 6.2% if the wages are paid via 1099"? We just concluded 1099 will cause more taxes.
So shall we tell the company to report all as W2 to benefit us?
Googling, it says:
Eventually independent contractors (1099) will actually owe higher taxes than employees. This is because not only will income tax be taken out, but self-employment tax as well. 1099 workers are also expected to...
I think the answer really lies on the general difference between W2 and 1099. He has no attorney.
You can look at the link justblue shared for the description of the charge he made with the EEOC and he is compensated for that now.
My friend had a settlement agreement with his previous company and they are going to issue him $30K. But the company is splitting it up into 2 parts: with half of it taxed (reported on an IRS Form W2) and half untaxed (reported on an IRS Form 1099).
Why are they doing it? What's the best for...