I advise buying one of numerous books that go into details.
Can you suggest one or two? Thank you

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An independent contractor should be charging 30-100% above
the normal salary to receive the equivalent of being an
employee. The contractor has to pay for 15.3% self
employment tax, their own medical and other kinds of
insurance, own vacation time, own offiice expenses, search
time between gigs, etc. The mark-up would be highest for
short jobs like days, and lowest for logn term contracts.
Some of these costs are deductable depending on how you
structure your business. I advise buying one of numerous
books that go into details.

A contractor has the flexibility of working part year, of
getting paid for alll the time they work. But there is the
worry of extra costs and insufficient work.

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Last year I was a grad student in Florida - taught for one
college as an employee (adjunct professor, rec'd W-2), and
taught for another college as an independent contractor
(online adjunct professor, rec'd 1099-MISC).

I just completed my taxes only to find out that I should
file the 1099-MISC as business income. I have now (Jan 2005)
moved to Georgia and will do a lot more online teaching. Can
someone give me some advice on this years taxes. Is there
any way to lessen the taxes that I will be paying? I think
the taxes will eat me alive if I do this kind of work all
year.

What are the advantages and disadvantages of being an
independent contractor?

Thanks

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