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? ++ What’s the tax on selling a start-up business? Should I raise capital for my profitable mobile app business? It’s generating $15,000 a month in net profit, growing by 5% a month. The company is self-funded. Should I raise outside capital and try to grow faster or focus on organic growth? Do I need a tax attorney to help me with my IRS tax problem? How Do You Protect the Idea of an App/Website If You Decide to Go Crowdfunding? What are some good places to find 1) designers & 2) developers for a mobile app? How does a founder protect against IP in each case if the company is not incorporated? Tax Identification Number: Is there a free database to look up any company’s EIN/tax I.D. number?