Question : I have a financial services marketing company and a mortgage company has approached me to pay me 90% 1099?
I am not a license loan officer and recieve lots of leads. I would like to use the company which is licensed through department of corporations and department of realty and they said that I will get 20% as w2 pay and 70% as 1099 as a marketing expense. Guys is this kosher?
mortgage marketing

Best answer:

Answer by Meghan
This sounds fishy. Just take a percentage as a 1099 as a referral fee. Putting you on a W-2 makes you an employee and you could have specific obligations to them. Plus it ensures you send all your business to them. That may not be the best idea. You may get a better deal from another company, or another company may be better able to service your customer. You can refer them, but just accept a referral fee and make sure you disclose it to your client.