Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Money and Finances
Reply to "Independent Contractor question"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous]The big difference (aside from benefits like healthcare and 401k match) is that you will now be paying both parts of the SS/medicare taxes - an additional ~7%. Now, you are only paying 15.3% self employment tax on NET PROFIT (rather than 7.65% on gross earnings as an employee), plus you get a deduction for half of the self employment tax you pay, so the impact may not be that great. You can also open an individual 401k and save far more than you could have with an employer's plan since you can make the profit sharing contributions on top of the 17,500 employee contributions.[/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
