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For the novices-but-keen-to-learn among us, could you explain what a '1099' means?
Thx!
Phil
On 19 Apr 2011, at 20:33, Laura Lemay wrote:
>
> Net 30 is good terms for a 1099 these days. Most 1099 contracts are net 45, net 60 or these days sometimes even net 90. And a lot
> of times a net 30 still requires daily phone calls and threats to stop work after the 30 days have gone by with no check.
>
> If you were paid in two days on a previous 1099 contract you had a terrific and rare deal. In 15 years of consulting I've only had one company that paid within a week.
>
> Laura
>
>
> On Apr 19, 2011, at 5:14 AM, Trish Robertson wrote:
>
>> Hi,
>>
>> I just received a contract for a six- to eight-week gig on a 1099 that states these payment terms: "$X per hour billed bi-weekly and payable net 30 days." I am very uncomfortable with that delay. Not only do I need money sooner than six weeks, but, potentially, I could complete my contract before seeing any money--and who knows whether they will pay.
>>
>> Previously, when working on a 1099, I was payed within two days.
>>
>> I believe that in Massachusetts, permanent employees must be paid bi-weekly, but are there any rules governing the timeliness of payment to consultants/contractors?
>>
>> Does anyone have any insight about this issue?
>>
>> Thanks, Trish
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>http://www.doctohelp.com
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