IC here

Posted By: GeorgiaMT on 2008-01-30
In Reply to: taxes ic versus employee - nannette kessler

Technically you pay more because as an employee 1/2 of your Social Security and Fed taxes are paid. BUT, as an IC you get tons of deductions for business expenses that employess would not be eligible for. For me over the years I have made out much better as an IC. I like the flexibility and I want my money now. That being said, I don't need bennies and my hubby claims 0 on his W4 so that we have enough taken out for the both of us.

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taxes ic versus employee - nannette kessler
- IC here - GeorgiaMT
  - Excuse me but federal taxes are paid as employee by employee - Patti
    - What are some examples of deductions you use? - nm
    - My mistake...no need to be rude..perhaps i shouldn't post here anymore! - GeorgiaMT
      - Did not mean to be rude - Patti
        She needed thicker skin. You weren't rude at all. nm - gstefani
  - thanks... - nannette kessler
    - There are a lot of categories you probably aren't thinking about - GeorgiaMT
    - You probably have more than you're aware of. - sm
      - thanks for the input - nannette kessler
        IC - Beverly Kennedy
        IC sets their own hours. As long as the work is done by the deadline, you decide when to work. - nm

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