PPRuNe Forums - View Single Post - Tianjin Airlines
View Single Post
Old 9th Apr 2012, 01:01
  #61 (permalink)  
pilotss2001
 
Join Date: Aug 2006
Location: SE Asia
Age: 51
Posts: 40
Likes: 0
Received 0 Likes on 0 Posts
1099

For those of you that don't understand the consequences of a 1099. Let me warn you.

In most of these contracts the company pays your local taxes. For some countries' citizens as long as you are abroad you pay no taxes. For US citizens you do. And giving you a 1099 makes you official US tax implications affecting your deductions.

Normally you get only two types of deductions. An overseas deduction taken if you live outside the US for 11 months or greater. The other is applying your overseas paid taxes against your US taxes which depending on your country wipes out your US taxes. A 1099 throws a monkey wrench in this game.
pilotss2001 is offline