What are the benefits of using 1099’s?
Filing as 1099s is a great opportunity to write off ordinary & necessary business expenses that you otherwise would never be able to write off as a W2 employee.
Mortgage & Vehicle Savings
1099s allow you to expense part of your rent or mortgage. They also allow you to expense business use of vehicle.
1099 income also provides an opportunity to take by far the largest deduction for income-heavy business - an SEP IRA. The maximum deduction is $55,000.