Categorizing pre-taxed W2 payments
magnificodesign
Member Posts: 4
If a client wants to put me on their payroll as a W2 employee, even if our arrangement is for a specific, short term design project, how should I categorize their payments in Wave?
They would be pre-taxed W2 income, unlike all my other clients' payments, which are 1099 business income, and recorded as paid invoices.
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Comments
magnificodesign,
You would not include in Wave, since if you used the income statement to report your business you would be double counting the income on your 1040.