Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Accounting (https://www.askmehelpdesk.com/forumdisplay.php?f=19)
-   -   Self empolyed vs. Empolyee (https://www.askmehelpdesk.com/showthread.php?t=178119)

  • Jan 29, 2008, 01:52 PM
    Victoroo
    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?
  • Jan 29, 2008, 06:55 PM
    twinkiedooter
    This all depends upon just how many legitimate deductions you will be able to claim on your taxes at the end of the year.
  • Jan 29, 2008, 07:26 PM
    ScottGem
    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.

  • All times are GMT -7. The time now is 05:08 AM.