|
I don't know the ins and outs, but if you don't have a legal business entity set up, can you cash checks made out to said business entity? Checks made out to "Bob's Consulting" are not technically the same as checks made out to "Bob Smith." You and the company probably don't care, but the banks might pitch a fit. In any case, unless this is a permanent venture you probably want to just subsist as an Independent Contractor. Have all the checks and tax forms made out to you directly rather than your non-existent company. Won't make any financial difference to the company, it just changes the Tax ID on the 1099 and name on the checks. There are probably contractual and liability issues associated with this, so that's another possibility... if you're doing anything that might get you sued maybe then you want to form an LLC or something. If you're just doing BS work for a few weeks for an old employer, probably not worth the trouble.
|
#
¿
May 22, 2019 14:00
|
|
|
|
| # ¿ May 16, 2024 15:32 |
|
|
Minidust posted:
Did you double check the numbers? Remember you're losing more than salary.... you're losing access to equipment, software, benefits, retirement, etc.... I know you said health insurance is taken care of, but there's a ton of other benefits that your employer provides that can be easily converted to a dollar figure. Don't forget that you are responsible for their half of FICA taxes now. 15% should more than cover it, but might not be enough once you consider everything else you lost.
|
|
#
¿
May 22, 2019 15:32
|
|