Reply to DH 401K Maxed Out, What about me?

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[quote=Anonymous][quote=Anonymous]Ugh...

Yeah I don't want to get my employer in trouble but I also don't want to be misclassified by the IRS either! I don't want them in my shorts just because he unknowingly misclassified me.  I say unknowingly because he is a very ethical guy so I can only assume this was done in error.

For clarification - he is a financial advisor and I am his marketing and admin person.  All of my work is directly related to his business.  I don't perform any services not related to his day-to-day business. [/quote]

if you never file a complaint, you will not have any legal trouble with the IRS or any other agency, as long as you correctly calculate and pay all of your taxes.  you will be getting screwed to the tune of ~7% of your pay, because you have to pay ALL of your payroll taxes, rather than splitting them with him (as would be the case with a W-2 employee).  if you can live with that, you can keep things the way they are, and the only person who stands to be fined is your boss (and unless a complaint is filed, the chances of that are almost 0.  i am an attorney and once worked for a sole practitioner who classified all of his associates as contractors. he had done this many, many times and been caught and even he was never actually fined by the IRS. they just made him kick in for the payroll taxes.)[/quote]

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