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I was self-employed from 2020-2022, mainly for tax reasons. There are lots of things 1099 employees can deduct from taxes (home office rent, lunches, any work-r
by dheera 3y ago
I was self-employed from 2020-2022, mainly for tax reasons. There are lots of things 1099 employees can deduct from taxes (home office rent, lunches, any work-related electronics and furniture you buy that the company doesn't reimburse, etc.)
Just make sure that when you negotiate the rate you bump it up enough to account for self-employment tax, health insurance, and vacation time. The company would have to pay for these anyway for W-2s (self employment tax becomes payroll tax) so they shouldn't be opposed to the slightly higher rate to account for these things.
It's idiotic that W-2 cannot deduct these but it's reality.
As a bonus if you ever work overtime you actually get paid for your additional work. Another thing W-2s should get but don't.