One of the tough decisions facing a person seeking a work from home job is the employee vs. independent contractor decision. Your employer might have made this decision for you long before you decided to work for them. However it is important for you to be very aware of the good and the bad of both.
At my current position I started as a contractor and eventually transitioned to an employee. I'm fairly confident both my employer and myself would have preferred I stay a contractor forever but unfortunately the laws of the state I am employed in make that a challenge.
Why would I prefer to remain a contractor and fore go the benefits associated with employment? I truly enjoyed knowing I was in charge of my destiny and as a contractor had a lot more control over when and where I worked. Benefits were of little interest to me and the biggest downside to my contractor status was the lack of paid time off.
The tax considerations for an independent contractor are extensive and way beyond my ability to address here. What I can say is it is exceptionally vital to understand the implications and consult with appropriate accountants and or attorneys to be sure you are complying with the law and taking advantage of the tax deductions available to you.
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