In the past, the most common type of work was 9-5 work, where employees would work a set schedule for big corporations. With the explosion of the gig worker economy and freelancing, the societal scene is starting to shift.
What is a W2, and Who is it For?
A Form W-2, or W-2 tax form, is an IRS tax form that records how much income an employee made throughout the year and their benefits and taxes. It's a form that records wages paid to employees and taxes
As part of the employment agreement with full-time and part-time employees, employers must fill out and send this form to workers at the end of the year. Employees will then take this form to file their year-end tax returns.
Yes, there are plenty of cooking shows and a range of cookbooks that could stretch around the world, but none of that squares with the fact that more people are eating more meals in restaurants than ever before!
W-2 employees are typically taken care of by companies much better than 1099 workers. Employers usually offer certain regular employee benefits like contributing to a retirement plan, providing health insurance, and paying for sick leave.