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Old 02-08-2019, 03:27 PM
 
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So I asked the company some follow up questions. They said the pay rate is something I would work out with the co-founder/director (he was in second interview) and they said the amount of hours depends on much work I can do (I.e time I have) and how much extra work is in the pipe. Also, they said it’s a way for me to see how they work and for them to see how I work. They said they usually go to their 1099ers first before posting full time positions.

Last edited by captainmidnight; 02-08-2019 at 03:42 PM..
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Old 02-08-2019, 03:30 PM
 
8,275 posts, read 3,758,589 times
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Quote:
Originally Posted by captainmidnight View Post
So I asked the company some follow up questions. They said the pay rate is something I would work out with the co-founder/director (he was in second interview) and they said the amount of hours depends on much work I can do (I.e time) and how much extra work is in the people. Also, they said it’s a way for me to see how they work and for them to see how I work. They said they usually go to their 1099ers first before posting full time positions.
All of this makes sense. You have to make sure the terms and rate makes sense for you. You have to consider everything it means to be on a 1099.
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Old 02-08-2019, 04:10 PM
 
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Originally Posted by TexasLawyer2000 View Post
All of this makes sense. You have to make sure the terms and rate makes sense for you. You have to consider everything it means to be on a 1099.
Ok thanks. I know I’d be paying both portions of Medicare and SS taxes. Now have to figure out rate. During this job search, I’ve been approached from recruiters for similar 1099 positions paying $55/hour.

Last edited by captainmidnight; 02-08-2019 at 04:36 PM..
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Old 02-08-2019, 04:34 PM
 
Location: Aurora Denveralis
8,712 posts, read 6,675,384 times
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Quote:
Originally Posted by TexasLawyer2000 View Post
1099 has some really great benefits, financially, if you do it right. In fact, I often prefer to be 1099 due to these benefits (mostly tax benefits).
What would those benefits be?

As many point out, 1099 employment is most often a cheap dodge to get a skilled employee at minimum cost and with zero commitment. In many fields, "temp to hire" is a badly worn-out joke.
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Old 02-08-2019, 09:13 PM
 
Location: Berkeley Neighborhood, Denver, CO USA
17,674 posts, read 29,584,857 times
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Originally Posted by Quietude View Post
What would those benefits be?.
You can sock away a lot more money towards retirement.
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Old 02-09-2019, 12:54 AM
 
10,350 posts, read 5,513,446 times
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Employee versus Independent Contractor is not a choice, it isn’t optional, and it isn’t something that can be negotiated. In a great many situations, people are improperly classified as contractors rather than employees. While this generally doesn’t create issues for the misclassified employee, the liability is HUGE for the employer that has misclassified an employee as a contractor.
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Old 02-09-2019, 05:56 AM
 
16,235 posts, read 25,092,569 times
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Quote:
Originally Posted by captainmidnight View Post
Background: Currently work full time at a toxic job I am looking to leave ASAP.

I interviewed with a company I want to work for and a job that was nearly perfect for what I want to do.

I did two interview rounds and just found out they went with someone else for the full time position. But then they said “we would love for you to do part time 1099 work for us. We are growing quickly and want to keep you in mind for future full time positions”.

What should I do here? Do you think they mean the part about keeping me in mind for future full time positions? I do know for a fact they are growing and obtaining more work.
My advice....Jump on it.

They don't want to lose you so they obviously have invented a job for you. You are at a toxic place now.....Go...You'll likely get into a better position soon at this new company.
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Old 02-09-2019, 12:21 PM
 
Location: Aurora Denveralis
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Quote:
Originally Posted by davebarnes View Post
You can sock away a lot more money towards retirement.
So you get paid, say, 3X equivalent salary, for as many weeks as you are actually employed, and have to cover your own healthcare, vacation and PTO/sick time. As well as all employment taxes on that 'high' income.

So with any extra, you can feed the same individual retirement plans you can while W-2 employed.

And, I guess, hope you keep getting called for contact work until you're ready to retire?

Like so many "employment alternatives," contract work would seem to suit the still-single, DINK, apartment- job- and locale-hopping under-35 set far more than anyone else. And have some nasty possible outcomes when the contracts stop coming.
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Old 02-09-2019, 01:22 PM
 
3,882 posts, read 2,340,659 times
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Originally Posted by captainmidnight View Post
My second interview was with the co-founder. He mentioned they had over $15 million in revenue and last week they just got $10 million in funding from an investor. The co-founded said they would use that funding towards growing their employee base in order to handle their increased workload. Seems to be that why would they cheap out to have me as a 1099 if what he said were true?
You'd have to see their actual P/L (Profit and Loss) statement to know what is behind that information. $15 million in revenue isn't a big deal if the company is losing $2 million a year and has $8 million in debt.
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Old 02-09-2019, 01:25 PM
 
3,882 posts, read 2,340,659 times
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Originally Posted by captainmidnight View Post
I honestly have no idea. How could I ask them?
You can't and frankly it is none of your business. Don't worry about the employer's issues, think of your own. You are contemplating leaving a full-time job for part-time work without any benefits, that's a huge red flag.
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