If you are an employer here to understand the difference between Wingspan and Gig Wage, you're in the right place.
What is the difference between Wingspan and Gig Wage?
Gig Wage is a valuable API to embed payroll into your marketplace or SaaS product. If you're employing American contractors and want to simplify their onboarding, payments, and compliance processes, Wingspan may be a better choice.
Streamline 1099 Payments
It's expensive and time-consuming to stay on top of things when paying contractors. Wingspan interacts with all of your other systems and collects and reports contractor payments to the IRS automatically.
Reduce Freelancer Attrition
The most significant problem facing organizations is finding and keeping their skilled employees. Unlike Gig Wage, Wingspan provides your contractors with a full-suite of tools to manage their business, which helps them stay on board for longer. They can set aside money for taxes, obtain insurance, and organize their income & expenses when you pay your workers through Wingspan.
Help your contractors with taxes
Freelancers, unlike full-time W-2s, have difficulty with taxes, which detracts from their productivity and contributes to attrition.
The most difficult tasks for contractors are balancing income for taxes, paying quarterly estimated taxes, and claiming tax deductions.
When you pay your contractors through Wingspan, they have the option of setting aside the appropriate portion of their earnings for estimated taxes. Freelancers are required to submit quarterly estimated taxes. Your contractors are reminded to make these payments and receive 1-click payments directly to the IRS by Wingspan.
Many 1099 expenses can be deducted, reducing their tax obligation. Wingspan allows your freelance contractors to link their bank accounts. Deductible expenses are automatically identified and your 1099s can understand their income and expenses over time.
Keep your contractors' attention on their job
Wingspan helps you give your contractors affordable benefits while remaining in compliance with employment law. Wingspan can help you get insurance and set up your LLCs for your 1099s. Health Advocate, 24/7 Telemedicine, and other big-company perks may be subsidized.