December 27, 2016What 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 Legal is hard. Let’s tackle it together. Speak to one of our Legal Pros and discover how we can help. Employment, Q&A 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? You may like these too As an international student in the United States (F1 visa), will I violate any visa policy if I do some freelance work on the internet for people residing outside of the USA? September 26, 2017 What is Bitcoin and how does it work? Is it legal? Who’s behind it? November 11, 2017 How can I get an EB-5 (Investor) visa? April 11, 2017 How To Negotiate Stock Options? December 20, 2016 How should I go about finding a lawyer for my startup? November 11, 2017 When in its lifecycle should I register an internet startup as a company? October 23, 2017 Mistakes to Avoid During a B1 Visa Interview February 22, 2019 Comment There is no comment on this post. Be the first one. Leave a comment or Cancel Reply Name* Email* Website Save my name, email, and website in this browser for the next time I comment.