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You need to determine if they're allowed to reclassify. Generally if you go to a place for 40 hours a week, or are on call for 40 hours, then you MUST be classified as W2. There is a reporting website for violations. Use a search engine to find it. Mis-classifying employees gets the employer in so much damn trouble and gets you crazy payouts.

IF you are truly a contractor, i.e. like a plumber or electrician that comes in for "JOBS", i.e. fix this, or rewire that, then you can be classified as a 1099 and you will probably want to ask for double or 2.5X your current pay rate. $40/hr as W2 is equal to about $80/hr contract.

AGAIN, if you are a contract type worker, i.e. plumber, electrician, AND you come in for specific jobs, i.e. rewire this, or replumb that, THEN you CAN BE 1099.

IF you are asked to come in to work in a "normal" 40 hour work week, WITHOUT specific projects or hours, THEN you MUST be classified as W2. If you are not, then you report it to the correct agency and the IRS sends its flying monkey's to fine the absolute living hell out of the company, get you backpay, etc...

Good luck!

It's bad in general, but depending on what you do if you are a contractor you can deduct expenses. They should automatically give you the part of social security you're now on the hook for. That is the main thing you definitely lose on. The rest it depends.

Not really. But your “client” is need to pay you more. You become contractor practically, now you can write out all sort of shit as expenses. Go see a CPA.

make them double your pay

Well, definitely ask a message board of anonymous users rather than looking it up somewhere, such as the IRS web site, or talking to a tax specialist.