This question is about w2 vs w4.

What s the difference between a W-2 and 1099?

By Zippia Team - Dec. 7, 2022

A W-2 form is used for standard employment, while 1099 is a form that is used for contractors. Ostensibly, 1099 is for reporting miscellaneous income. It's most often used for contractors. However, it's also the form for landlords, as well as those who received royalties, prizes, or other forms of income.

Paying a contractor doesn't require you to withhold pay for taxes, so that's something that the contractor must correct at the end of the year. Contractors usually don't have additional benefits or deferred payments, either.

What s the difference between a W-2 and 1099?

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