The Promotional Event Staffing Industry is changing and Hype is staying ahead of the game.

As of April 13^th,  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)?

• You will be classified as a W2 Variable Hour Employee, rather than an Independent Contractor when you work for Hype.
• Taxes will be withheld on your behalf from each paycheck.
• Being in this preferred group would give you the opportunity for more work with us!
• You will receive a W2 Form at the end of the year in place of a 1099 Form.  The benefit of this is that Hype takes care of withholding your taxes for you.  At tax time, you no longer need to worry about coming up with the money to pay the taxes on earnings you received from Hype!
• You can still continue to work with any other companies in addition to Hype.
• You will be paid sooner than the 4-6 weeks payment cycle for Independent Contractors!

WHAT IF I DO NOT WISH TO BE A HYPE EMPLOYEE?

• You will still be able to maintain your Independent Contractor status and be responsible for submitting income tax payments on your own by forming your own business entity. To do this you must apply for and obtain an EIN (Employer Identification Number) from the IRS.  In this case, you would need to fill out a new W9 Form with your EIN on it and you will receive a 1099 at the end of the year.
• If you would like further information on this EIN process, please visit: http://goo.gl/SpXGV