My parent is hiring me as an employee of their small business, should I receive a W-2 or 1099?
Keeping things vague for the sake of anonymity, but my parent is seeking to employ me as an assistant to their small business. This is an on-the-books company. They create the work hours and I will be paid an hourly wage, and be a part time employee. Should I be getting a W2 or 1099? Which one would be more beneficial for me financially to where I’d have to pay less taxes? And is there one option that’s “legal” here or are they both? Thank you in advance!