Hire a 1099 Financial Advisor in Wyoming
What it costs to engage an independent financial advisor in Wyoming, and how to keep the engagement compliant.
- Financial Advisors employed
- 290
- State income tax
- None
BLS OEWS, May 2024
one of nine states
Hire a 1099 Financial Advisor in Wyoming covers a specific slice of the independent workforce, and the practical questions are always the same: what it pays, what it costs, and what changes about your taxes. This page answers those with published data rather than generalities, for Wyoming specifically.
What Wyoming looks like for personal financial advisors
The occupation employs 290 people across Wyoming. That figure counts every employment arrangement, W-2 and 1099 alike — BLS does not split the two. Applying 1099WORK's estimate that roughly 50% of personal financial advisors work on a 1099 basis puts the independent share near 145 people. Treat that as an order of magnitude, not a census.
The location quotient is 0.60 — personal financial advisors are 40% less concentrated here than in the average US market. That thins the employer pool, but it also thins the competition for the contracts that do exist.
A thin concentration cuts both ways: fewer employers and longer sales cycles, but far less competition once you have a relationship. One local factor never shows up in wage data at all: Wyoming levies no state income tax, so a given gross goes further here than the same gross in a taxed state.
The classification caveat
Labelling an engagement 1099 does not make it 1099 — the IRS weighs who controls the work, who supplies the tools and who carries the risk. For personal financial advisors the usual flashpoints are set schedules, employer-supplied equipment and exclusivity clauses. Wyoming also applies its own test, which can reach a different answer than the IRS does on identical facts.
Where the personal financial advisors are in Wyoming
Statewide totals hide how concentrated the work is. These 2 metros account for the bulk of Wyoming's financial advisor employment:
| Metro | Employed | Median annual | Population |
|---|---|---|---|
| Cheyenne | 50 | $64,580 | 102,000 |
| Casper | 50 | $84,750 | 80,410 |
Which trades run on contractors in Wyoming
Across the 81 occupations 1099WORK tracks, Wyoming has an estimated 27,193 people working on a 1099 basis, out of 83,140 employed in those occupations altogether. The concentration is uneven: heavy and tractor-trailer truck drivers, janitors and cleaners, and general maintenance and repair workers account for a disproportionate share, because those trades are structurally independent rather than incidentally so. The 1099 estimates below apply 1099WORK's per-occupation contractor share to BLS employment — they are estimates, and BLS itself does not publish the split.
| Occupation | Total employed | Est. 1099 | Median pay | 1099 rate to match |
|---|---|---|---|---|
| Truck Driver | 6,530 | 2,286 | $60,270 | $48.31/hr |
| Cleaner | 4,690 | 1,642 | $35,580 | $28.52/hr |
| Handyman | 3,980 | 1,592 | $47,960 | $38.44/hr |
| Registered Nurse | 5,180 | 1,295 | $81,790 | $65.56/hr |
| Bookkeeper | 3,450 | 1,208 | $45,810 | $36.72/hr |
| Construction Laborer | 3,300 | 1,155 | $45,860 | $36.76/hr |
| Carpenter | 2,460 | 1,107 | $55,870 | $44.78/hr |
| Virtual Assistant | 2,410 | 1,085 | $43,480 | $34.85/hr |
| Home Health Aide | 3,360 | 1,008 | $31,280 | $25.07/hr |
| Electrician | 2,710 | 948 | $73,450 | $58.88/hr |
| Landscaper | 1,850 | 740 | $37,190 | $29.81/hr |
| Delivery Driver | 1,560 | 702 | $41,030 | $32.89/hr |
The best-paying 1099 work in Wyoming
Software Developer leads on median pay in Wyoming at $112,590, with the top decile at $163,840. The table below is filtered to occupations where independent work is genuinely common — a high median in an occupation that is 95% W-2 is not an opportunity. Remember that every figure is a W-2-and-1099 blend: to match them as a contractor, multiply by roughly 1.33 for payroll tax, unpaid time and self-funded benefits.
| Occupation | Median pay | 90th percentile | Est. 1099 share |
|---|---|---|---|
| Software Developer | $112,590 | $163,840 | 30% |
| Consultant | $103,820 | $217,010 | 40% |
| Physical Therapist | $101,130 | $121,780 | 30% |
| Occupational Therapist | $89,370 | $122,930 | 30% |
| Loan Officer | $76,460 | $142,950 | 40% |
| Sales Rep | $74,870 | $138,370 | 35% |
| Electrician | $73,450 | $105,350 | 35% |
| PR Specialist | $69,670 | $112,120 | 30% |
| Tutor | $64,450 | $99,590 | 60% |
| Recruiter | $62,690 | $107,350 | 30% |
Where to look next
1099WORK is a marketplace built for 1099 engagements specifically: companies post a defined scope, personal financial advisors keep one verified profile, and agreements, onboarding and payment happen in the same place. It launched as 1099REPS for independent medical sales reps and now covers the wider 1099 economy, Wyoming included.
Frequently asked questions
How many personal financial advisors work in Wyoming?
BLS counts 290 personal financial advisors in Wyoming. 1099WORK estimates roughly 145 of them work on a 1099 basis, though BLS does not publish that split.
Do I need an LLC to work 1099 in Wyoming?
No. A sole proprietor can accept 1099 work under their own name and Social Security number, and many contractors start that way. An LLC adds liability separation and lets you elect S-corp taxation once profit is high enough for the payroll-tax saving to beat the extra filing cost. Wyoming sets its own formation fee and annual report requirements.
What are the risks of hiring a 1099 financial advisor in Wyoming?
Misclassification is the main one, and it is assessed against the hiring company. If you set the schedule, supply the equipment and forbid other clients, agencies will treat the engagement as employment regardless of what the contract says, and Wyoming applies its own test separately from the IRS. A written scope of work, a defined deliverable and a contractor who serves other clients are the practical defences.
How often do 1099 contractors pay taxes in Wyoming?
Quarterly. The IRS expects estimated payments in mid-April, mid-June, mid-September and mid-January, and charges an underpayment penalty for missing them even if you pay in full at filing. Wyoming has no state income tax, so the federal schedule is the whole calendar for most contractors there.
Is 1099 work better than a W-2 job in Wyoming?
It depends entirely on rate and stability. 1099 wins on control, deductibility and upside; W-2 wins on predictability, benefits and unemployment cover.