Tax Term meaning

[madhavan_vs]

I would like to know the meaning for the following tax terms. I come across these terms when I start searching for jobs

Contract - Corp to Corp
Contract - Independent
Contract - W2
Contract to Hire - Corp to Corp
Contract to Hire - Independent
Contract to Hire - W2

[immihelp]

Contract - Corp to Corp
>>> That means that you have your own company and client company will make payments to your company for the work you do.
They will pay a flat rate, such as $50/year. And you would get paid from your company either as 1099 or W2 as described below.

Contract - Independent
>>> Client company will directly pay you on hourly basis. They will give you 1099 at the end of the year for the money they paid. You are working as a contractor. They will pay a flat rate, such as $50/year and you are responsible to pay all your taxes such as social security tax, medicare tax (employee and employer portions.)

Contract - W2
>>>> You are an employee of the company. You will get salary. Additionally, you may get health insurance, holidays, vacation and other benefits.