Reply to 200k independent contractor or 110k fed?

Forum Index » Jobs and Careers

Reply to "200k independent contractor or 110k fed?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]As an independent contractor, assuming the jobs are similar, I would vote Fed. As 6:15 so clearly pointed out, the $200k is not $200k in your bank. You have to pay the employer's portion of taxes, which is significant. You also will be spending at least 10 hours a month on reporting, invoicing, and payroll activities, time which you can't bill to the client.

Also, even if you have a promise in hand of a contract, what happens after that ends? You will need to be doing an extraordinary amount of networking and marketing while working the current contract, so you aren't left high and dry if/when the contract isn't extended like you might have expected.

I would only advise the independent route if you are a sought-after expert in a particular field, have deep networks of people with decision making authority (i.e., to hire you as an independent), and your family will not be depending on your monthly take-home. It's not as easy as it seems.[/quote]

615 here.  I agree with this, and will add if you are a sought-after expert, your rate will be more than 100/hr.

(I work for a contracting company, make 170K.  When I have worked as a 1099 contractor, I billed out at $250/hr.)[/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