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    Victoroo's Avatar
    Victoroo Posts: 1, Reputation: 1
    New Member
     
    #1

    Jan 29, 2008, 01:52 PM
    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?
    twinkiedooter's Avatar
    twinkiedooter Posts: 12,172, Reputation: 1054
    Uber Member
     
    #2

    Jan 29, 2008, 06:55 PM
    This all depends upon just how many legitimate deductions you will be able to claim on your taxes at the end of the year.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #3

    Jan 29, 2008, 07:26 PM
    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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