Can someone please clarify the meaning of the following terms that one comes across when looking for a job in the US?
1. Contract - Corp-to-Corp
2. Contract - W2
3. Contract to hire - Corp-to-Corp
4. Contract to hire - Independent
5. Contract to hire - W2

Thanks.

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wisernow

1. Contract - Corp-to-Corp
1. You're incorporated and the company you work for pays your corporation, not you.

2. Contract - W2
2. The company you consult for takes payroll deductions and gives you a W2 at the end of the year (W2 = Canadian T4)

3. Contract to hire - Corp-to-Corp
3. Same as 1, but they may hire you full time time after a while

4. Contract to hire - Independent
4. Same as above, but you're a independent (sole prop.) instead of being incorporated

5. Contract to hire - W2
5. Since you're wiser now, you'll figure this one out.

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