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how does 1099 work with my own company
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can i work on 1099 from my own company instead of on w2? the reason is   on w2 i can't deduct my commute, health insurance and some other   expenses while on 1099 i think i can able do that. since i am going to   client place to work not at my own office, i am not sure whether i   should able to do that or not. if you have llc, unless you elected to tax it as a corporation, you need neither 1099 nor w2. for tax purposes the llc is disregarded. so it is, from tax perspective, a sole proprietorship (or partnership, if multiple members). being a w2 employee of your own llc is a bad idea. for all these above expenses, which can i use company's debit/credit   card or i need to use only my personal debit/credit card? it would be better to always use a business account for business purposes. doesn't matter much for tax per se, but will make your life easier in case of an audit or a legal dispute (limited liability protection may depend on it). if i work on 1099, i guess i need to file some reasonable taxes on   quarterly basis instead of filing at year end. if so, how do i pay my   tax on quarterly basis to irs? i mean which forms should i file and   how to pay tax? unless you're a w2 employee, you need to do quarterly estimate payments using form 1040-es. if you are a w2 employee (even for a different job, and even if it is not you, but your spouse with whom you're filing jointly) - you can adjust your/spouse's withholding using form w4 to cover the additional tax liability. this is, imho, a better way than paying estimates. there are numerous questions on this, search the site or ask another one for details.
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