Why Friends Don't Let Friends W-2
Successful Independent Consulting
AUGUST 16, 2017
"As an independent consultant, does it matter how I get paid?” Absolutely! In the U.S., being paid on a 1099 tax basis as a business instead of on a W-2 tax basis like a temp worker makes a huge difference to your profitability for two key reasons: You pay less tax. You save more for retirement. Here’s how I figured this out. Several years ago, as an independent consultant I did my taxes two ways using TurboTax® software.
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