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Nursing Agreement Self Employed Independent Contractor  Form

Nursing Agreement Self Employed Independent Contractor Form

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who pays more taxes a w-2 employee or a 1099 independent contractor a lot of people tend to be confused about this topic so let's break it down in this example let's say as a w-2 employee you make 40 000 while the taxes on that income would be six thousand dollars well as a w-2 employee you have with holdings so let's say it's seven thousand dollars well in this example you over withheld by one thousand dollars so that would be your refund of one thousand dollars now as a 1099 independent contractor let's say your income is exactly the same at forty thousand dollars however you do as a 1099 independent contractor get to write off business expenses so let's say there are twenty thousand dollars in this example leaving you with a net of twenty thousand dollars now because the net is lower you do pay less taxes which is only two thousand dollars however you do have to pay self-employment tax of three thousand dollars bringing your balance du

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