minority partner in employers LLCs for builds, W2 or 1099 ?

[Matt Lockwood]

Hi all,

Just graduated college and I'm getting my start in REI in San Carlos, Redwood City, and the general Bay Area in CA. I'll be employed as a foreman on our construction sites building spec homes. Im getting paid on salary but in addition to this I will be a minority partner in each LLC we form for each house we build. This means that I will be paid out when we close escrow on each build. My employer has given me the option to be on payroll or to be paid as a 1099 contractor. Need to decide which way I will set it up. I'm planning to have a consultation with a local professional about this but I also wanted to see if anyone on here has any insight to offer as far as tax strategy, deductions, etc.

Thanks!