Question 10
People sometimes mix up reporting income on a W-2 vs. a 1099. W-2 workers usually have taxes withheld by employers and receive documented wages. Contractors who receive 1099s often need to handle self-employment tax and estimated payments. A common misconception is that 1099 income isn't taxable — it is. Another mistake is failing to set aside money for taxes when you have non-withheld income. This question checks a basic, practical distinction so you can remember to set aside taxes from non-withheld pay.
Which statement is true about 1099 (nonemployee) income compared with W-2 wages?
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Rules for student loans and forgiveness programs change periodically, so borrowers should confirm current eligibility and program details.