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Working 1099 should be preferable from a tax perspective (if through an s corp) and from a liquidity standpoint (money is cash, not 401k contorbutions), not wo
by anm89 5y ago
Working 1099 should be preferable from a tax perspective (if through an s corp) and from a liquidity standpoint (money is cash, not 401k contorbutions), not worse, I would think.
You do have to pay health insurance monthly but for a young single person I'm at 250 a month so nothing that really changes things.
- wonderwonder 5y agoEven better, if you are married, your spouse can have a job that provides health insurance and you work as a contractor.
- cactus2093 5y agoExactly what I was thinking, sure you have to pay health insurance and self-employment taxes but you can write off so many other expenses. You can write off computer purchases, even part of your rent or mortgage if you use an extra bedroom as an office. And then there are all kinds of ways you can re-invest earnings in your business instead of taking it as salary if your monthly costs are only $25k a month.