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All Forum Posts by: Kumar Raja

Kumar Raja has started 3 posts and replied 4 times.

Goals, Business Plans & Entities

Post: For LLC hiring employees on w2 vs 1099

Kumar RajaPosted
  • Posts 4
  • Votes 0

Hi Experts

I just started a IT consulting firm.

I am hiring an employee to work for me but I want to pay him a fixed salary every month and I don’t want to pay medical, 401k etc

So is it ok to hire him on W2? Since I have only 1 employee how do I manage his tax, social security, medicare deductions.?

If I put him on 1099 should I give a paystub ir no? Its just vouchers?

And if its W2, can I get benefits like getting a loan to expand my business?

W2 or 1099

0 Votes
Questions About BiggerPockets & Official Site Announcements

Post: Credit score and mortgage loan

Kumar RajaPosted
  • Posts 4
  • Votes 0

I am earning >200k this year. But due to a mistake my wife did I got a derogatory item last year. My credit score is 650 or around... can I get a mortgage loan or should I wait??

0 Votes
Questions About BiggerPockets & Official Site Announcements

Post: Realestate and shares investment

Kumar RajaPosted
  • Posts 4
  • Votes 0

I have started a LLC recently, can I use the LLC accnt to do share trading and real estate investments? Will it help save some tax?I have 2 W2s...

0 Votes