AnswersWhat Are the Pros and Cons of Being an Independent Contractor vs an Employee? Pros of being an independent contractor you retain autonomy. In theory, as an independent contractor, you’re supposed to be your own boss. As such, you have control over your hours, how much you charge, how you do the work etc. you may be able to put more money away in tax deferred accounts Cons of being an independent contractor independent contractors are taken advantage of; they should be classified as employees, but their employers unlawfully classify them as independent contractors in order to bypass payroll taxes and benefits no fringe benefits from employer have to maintain unemployment insurance in some industries responsible for filing taxes. This could be a good thing if you keep track of your expenses, which you will be able to deduct from your earnings Employment Previous What Are Some Options for Startup Founders Needing Immigrant Visas? Next Why Is Asking a Potential Investor to Sign an NDA at a Pitch Meeting Commonly Viewed as a Faux Pas? ++ Can I use a trademarked name in my company (startup) name? How do you setup a LLC and a bank account in the US without needing to appear there in front of bank? Does a startup co-founder necessarily have to own 50% of the equity? With little to no money, how do start ups get access to quality legal advice? Is Harvard Business Services, Inc. a good registered agent? What is the typical cost of the post-incorporation process for a Delaware C?