You’ve probably been in this situation before: you are offered a new job and while you are negotiating the terms of your employment, you are given the option of working as a 1099 contractor or as a W-2 employee. How do you make the right decision? There are so many differences between the two options, and what you decide can have a significant impact on your life and financial situation. Ultimately, it depends on your desires and priorities for yourself. So, should you choose 1099 or W-2? To help you better determine your decision, we will be doing a comparison of being an employee versus being an independent contractor.
The differences between being an independent contractor versus being an employee are quite significant. In the end, which is best for you is dependent on your desires and goals for your employment future. If you desire more freedom to make your own decisions on projects, hours and who you work with, being an independent contractor would be right up your alley. If you desire more job security and like a regular routine, working as an employee would be more suited to you. Whatever the case may be, it is important to consider your options carefully.
If you are a W2 employee that is considering making the switch to 1099, but want to know how it will affect your income and taxes, you are in the right place. We have a tool that will calculate the tax savings you will make by switching to a 1099 contractor and structuring your business efficiently. Contact us today for a free tax consultation, and find out how we can save you money.
CLICK HERE FOR A FREE TAX CONSULTATION
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