For LLC hiring employees on w2 vs 1099

[Kumar Raja]

Hi Experts

I just started a IT consulting firm.

I am hiring an employee to work for me but I want to pay him a fixed salary every month and I don’t want to pay medical, 401k etc

So is it ok to hire him on W2? Since I have only 1 employee how do I manage his tax, social security, medicare deductions.?

If I put him on 1099 should I give a paystub ir no? Its just vouchers?

And if its W2, can I get benefits like getting a loan to expand my business?

W2 or 1099