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Tax Terms plays a key role in US job market / USIT Recruitment so in-order to have good understanding about US recruitment, every recruiter must have knowledge about the US Tax Terms
Basically USIT Recruitment works on two key factors :
VISA | Tax Terms |
---|---|
H1B | C2C |
OPT | W2/C2C |
Green Card | W2/C2C |
US Citizen | W2/C2C |
TN Visa | W2/C2C |
H4 EAD | W2/C2C |
GC-EAD | W2/C2C |
For instance the person who is seeking a job opportunity with a valid work authorization (US Citizen/Green card/H1B /OPT /TN visa etc..,) is termed as consultant /Candidate.
Like wise Our staffing agency will take these Consultants on their bench according to the interest of the consultants.
If a H1B candidate is on one of the staffing company (“X” ) payroll (or made an agreement with an employer for a certain period ) then this H1B Candidate is called as W2 of this (“X” ) Staffing firm
C2C is one of the commonly used Tax Terms in the US , which is the most preferable Tax by most of the consultants
C2C is an agreement between two Corporations and under this Tax Term your company/corporation is responsible for your Taxes.
1099 is one of the rarely used tax terms in US job market as no one prefers to work on 1099
1099 is and independent contractor or freelancer where they are liable to pay their own taxes and files their payroll.
There are 3 types of tax terms i.e W2, 1099, C2C
C2C or Corp-to-Corp is an agreement between an individual ( Valid US Visa Holder ) to a corporation.
When a person is paid on 1099 tax terms all the money earned by the candidate is paid on untaxed bias so, the candidate is responsible to pay the tax .