Sole proprietor using payroll service for a W2 vs 1099 income

You really should already know these things. That's your profession.

"if there would be any benefit to me using a payroll service to pay myself via W-2 vs just using the 1099 that I get from my Broker Dealer"

W-2 = Employee of that entity.

1099 = Contractor to that entity, running your own business.

You cannot pay Yourself through Payroll using W2, as a Sole Proprietorship. I got confused understanding who you feel Employs you, in this discussion.

One thing I encourage professionals, such as yourself, to do is Sign Up for governmental e-newsletters. This came in yesterday:

Worker Classification Webinar

The Tax Exempt and Government Entities Division would like to invite you to register to watch the free Worker Classification Webinar on October 7, 2020 at 1:00 p.m. (ET).

This webinar is designed to help government and private sector entities understand the definition of an employee and determine whether a worker is an employee or independent contractor. It will also cover Form SS-8, Classification Settlement Agreements and what to do if an individual is an employee.

Questions emailed to: [email address removed]  with the subject line “Pre-submitted questions for the Workers Classification webinar (October 7)” will be answered as time permits.

For further details, see Webinars for Tax Exempt & Government Entities.

Sign up here for all categories that are of interest to you:

https://service.govdelivery.com/accounts/USIRS/subscriber/new