In USA, there are following Employment Types and/or Tax Terms:
Corp-to-Corp – Indicates that the employer would prefer to deal directly with another corporation. The main reason for this preference is to avoid some of the potential liability that might exist in dealing with an independent contractor on a 1099 basis. This would include corporations dealing directly with other corporations or corporations dealing with individuals who have incorporated. Independent – The employer is willing to hire a temporary employee on either a 1099 or W-2 Basis. 1099 Employee – A 1099 employee is in most cases a temporary employee (technically, not even an "employee"). Because they are not permanent, they do not need to complete a W-4 or have the employer withhold taxes. They are responsible for paying their taxes directly to the IRS. The IRS requires that the employer report the earnings paid on a form 1099. The IRS would rather put the burden of tax withholding on the employer and therefore has fairly stringent rules regarding when someone can be considered a 1099 employee. W-2 – A W-2 employee is an employee whose taxes are withheld by the employer and whose earnings are reported to the IRS at the year-end via a W-2. The W-2 employee completes a form W-4 at the beginning of their employment to instruct the employer on how to withhold taxes. This eliminates any possible issues that may arise with the IRS regarding employment status. As an H-1B Visa holder, you should look out for job opportunities that mentions Corp to Corp (c2c).
You will notice that job posts also mentions Tax Terms. Tax Terms includes:
Full-time – Will be working as a full-time W-2 employee for the company.
Part-time – Will be working as a part-time W-2 employee for the company.
Contract - Corp-to-Corp – Will be working on contract with or through another corporation.
Contract - Independent – Will be working as a contract 1099 employee for the company.
Contract - W2 – Will be working as a contract W-2 employee for the company.
Contract to Hire - Corp-to-Corp – Will be working on contract with or through another corporation with the option to hire.
Contract to Hire - Independent – Will be working as a contract 1099 employee for the company with the option to hire.
Contract to Hire - W2 – Will be working as a contract W-2 employee for the company with the option to hire.
As an H-1B Visa holder, you should look out for job opportunities that mentions Contract – Corp-to-Corp or Contract to Hire – Corp-to-Corp.
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