Go Back   WAHM Forums - WAHM.com >

Welcome to the WAHM Forums - WAHM.com.

Welcome to WAHM Forums

Already registered? Login above 

OR

To take advantage of all the site's features, become a member of the largest community of Work-At-Home Moms.

The advertising to the left will not show if you are a registered user.


Reply
 
Thread Tools Search this Thread Display Modes
  #131 (permalink)  
Old 06-26-2018, 11:05 AM
WAHM Regular
 
Join Date: Jun 2018
Location: United States
Posts: 29
Default

I have been working online (full-time) for about four and a half years. All of my work from home jobs (transcription, data entry, search engine evaluation, and market research) have been as Independent Contractors. I haven't actually come across a company hiring online workers as actual employees. You might check some companies that hire telecommute customer service workers. Some of those jobs might be W-2 employment opportunities.

However, you are right that being an independent contractor is a bit scary when it comes to taxes. You have to remember that Independent Contractors end up paying higher payroll (Self-Employment) taxes, because we have to pay both the employee and employer portion of Social Security and Medicare taxes. That comes out to about 15.3% of net earnings. In addition to SE tax, we still have to pay regular federal and state income taxes.

In short, you should study up on the tax issue if you decide to become an independent contractor.
Reply With Quote
Sponsored Links
  #132 (permalink)  
Old 07-25-2018, 05:33 AM
hnsignorelli's Avatar
Registered WAHM
 
Join Date: Jul 2018
Location: Denver, CO
Posts: 3
Default

Hi, I wouldn't be terrified of the taxes if that is all you are worried about. Takes a little to learn but totally doable. The most important part is to save about 30-35% (maybe less depending on income level) and pay quarterly. It can actually be a benefit when it comes to saving for retirement because you have other options like a solo 401k. Many benefits to 1099 income.

Last edited by hnsignorelli; 07-25-2018 at 05:34 AM.
Reply With Quote
  #133 (permalink)  
Old 07-25-2019, 05:32 AM
StevenKenneth's Avatar
WAHM Regular
 
Join Date: Jun 2019
Location: 6211 Johnston House #4, Albany, NY 12203
Posts: 20
Default Telecommunication

That's going to vary a lot. Some people pick contractor and outsource the work, because it's much easier than having an employee in payroll. But then again, it depends on the kind of work. Jobs like transcription are outsourced to firms rather than individuals.
Reply With Quote
 
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off