This may not be all of it but.....

Posted By: lilworried on 2006-02-23
In Reply to: Differences between IC and - no longer with MQ

Statutory has some taxes paid and receives a W2 at the end of the year. Independent Contractor has no taxes paid, and receives a 1099. Both are pretty much the same with exception to some of the taxes.

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Differences between IC and - no longer with MQ
- Put 30% of your pay away for yearly taxes. You will be fine! nm - IC-25 years
- what I don't like about IC position - Sm
- This may not be all of it but..... - lilworried
- Be careful - kl
  - see and I say take the IC, just make sure - lilworried
    - It works well when you have a spouse whose tax contribution covers you. nm - IC-25 years now
    - I agree with the other, be VERY - old MT
      - been in this career for almost 2 months - and checked out a few IC positions
        two months in this.....you probably don't know it all yet - lilworried
        Thanks all for the input. - no longer with MQ
        I meant years lol.. where's my head at today. - 2 YEARS
        duly noted years and not moths, but that..... - lilworried

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