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Reply to "Working as an Independent Contractor"
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[quote=Anonymous][quote=Anonymous]OP here. Thanks for the advice. I will not be supervising, so D&O is not an issue, but excellent point. I reckon another way to put it would be to ask what percentage more would you want in order to be an IC instead of an employee? [b]Assuming I make $65,000 including salary, reimbursements, 401K contributions, etc, what % more would you want to make to lose the benefits and go IC. 20% or $13,000? [/b] [/quote] Figure I've heard is 30% (this was advice from my HR on how to compare the comp of candidates who were independent contractors previously to salary that we can offer). Self-employment tax is 7.5%, plus employer 401k match is often 6%, so there is almost 14% right there, and that doesn't even include health insurance, or any other benefits (disability etc). That can add up quickly.[/quote]
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