The Promotional Event Staffing Industry is changing and Hype is staying ahead of the game.
As of April 13th, ALL Hype! talent are being classified as W2 variable hour employees, rather than 1099 Contractors. It is our opinion, that soon all clients and brands will be looking to staff their events with W2 Employees rather than Independent Contractors. As always with Hype, we want our team to be part of the leaders, not the followers! We want to protect our talent and stay ahead of these changing times, so our brand ambassadors can continue to get the most desirable work in the Promotional Event Staffing Industry!
As a brand ambassador, you may be tempted to want to remain an Independent Contractor figuring you can write off expenses and figuring your paycheck will be a little bit bigger. That may be great for your current situation and short term, however, come tax time you will actually owe higher taxes. Not only will you be responsible to pay income tax, but the self-employment tax also. If you’re not making more than 113K, you’re paying 15.3%! Yikes! As a W2 Employee, you’re responsible for ONLY paying your half of Social Security tax (7.65%) and Medicare and Hype covers the other half!
W2 Variable Hour Employee vs. 1099 Independent Contractor Example:
It’s easy to make the switch in our system- UPDATE YOUR PAPERWORK ONLINE NOW!!
FREQUENTLY ASKED QUESTIONS:
WHAT DOES THIS MEAN FOR YOU (The Hype Brand Ambassador)?
WHAT IF I DO NOT WISH TO BE A HYPE EMPLOYEE?