Best rules as a contractor Post: 302753853

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The Lounge What is on Your Mind? Best rules as a contractor Post 302753853 by taltamir on Wednesday 9th of January 2013 12:52:21 PM

01-09-2013

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If you are working as a full time employee for a company that classifies you as a contractor (as I am currently doing yourself) you are basically getting screwed by your boss. The government HATES you because you are not conforming, it will express this by punishing you.

Unemployement tax: for regular employees its 50% paid by you, 50% paid by boss... (well, 50-50 of the fees, the actual benefits are paid mostly by general taxes not collected fees in checks).

As a contractor you pay 100% of that very same fee yourself and are INELIGIBLE to receive ANY benefits at all.

Medicare/medicaid: Those also go from 50-50 split to 100% you, but at least you are eligible.

Healthcare: if you work over 30 hours a week obamacare classifies you as full time employee and boss has to provide healthcare plan drafted by the government or pay a fee/fine which is used to help fund it, they will pay the fee because it is cheaper.
If you are a contractor you have to buy it yourself or pay a fee, and buying it yourself is going to be much more expensive than for a company to negotiate a group deal... unless you are very young and healthy. (with 14 years experience I am thinking you are too old for that).

IIRC there are a few other ways in which you get the shaft too...
But, unfortunately a person has to eat and contractor job is better then no job at all.

Last edited by taltamir; 01-10-2013 at 01:06 PM..

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