View Full Version : Self empolyed vs. Empolyee
Victoroo
Jan 29, 2008, 01:52 PM
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
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
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.