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Reply to "negotiating $ and benefits as contractor"
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[quote=Anonymous]Getting benefits negates being a contractor - it's a key factor the IRS looks to when deciding if you're properly classified as an employee or contractor. You should look into setting up your own SEP-IRA, SIMPLE IRS or 401(k) as the sole proprietor of your own consulting business; the plans all have slightly different limits & rules. As a self-employed individual, you can set aside quite a bit of pre-tax money through an "employer" contribution (i.e. you're the employer) plus as your own employee deferral. The employer side contribution directly reduces your business taxable income as a sole proprietor of your own business. Check out the IRS and some financial sites (e.g. Vanguard, Fidelity) for details on these plans.[/quote]
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