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[quote=Anonymous][quote=Anonymous][quote=Anonymous]From that, your carpenter has to pay for health insurance, retirement/401k, insurance for his company, overhead costs, various taxes, etc. [/quote]

He works alone, has no employees. Out of my $124/hr I also have to pay retirement, insurance (health, disability), plus umbrella not included, commuting, taxes, etc. None of which are deductible against income.[/quote]
So does the contractor, and as a self employed person, they also have to pay the employer's portion of FICA.   They also have to pay for private health insurance rather than as a group, which have cheaper premiums.  They also don't have the employer paying a % into their 401k. They also have to pay for liability insurance, commuting, etc.

Being self employed has it's pros, but it's not all that lucrative if you factor in all the benefits that they have to pay for themselves. That's why self employed people charge more per hour.. because they have to pay for their own benefits and self employment tax.

I've been both self employed and an employee.  [/quote]

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