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Home > Business & Careers > Accounting   »   Self empolyed vs. empolyee

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Old Jan 29, 2008, 12:52 PM
Victoroo
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Self empolyed vs. empolyee
I have the opportunity to receive my salary as a "contractor" self employed or as an employee of the company, bottom-line after taxes, which way will leave me more money in my pocket?

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Old Jan 29, 2008, 05:55 PM   #2  
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This all depends upon just how many legitimate deductions you will be able to claim on your taxes at the end of the year.
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Old Jan 29, 2008, 06:26 PM   #3  
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Obviously the contractor will leave you with more money in your pocket since no taxes are being taken out. But you will be responsible for paying your own taxes on a quarterly basis. So you will have to do a lot more work taxwise.

However, an independent contractor may be able to take advantage of more deductions.
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