On Wednesday 30 July 2008 12:37, Mike Dikan wrote: > This is true, but as someone else mentioned, factor in deductions, and > the fact that SS/Medicare are a relatively small part of taxes when > put up against the 800-pound gorilla of income taxes, and the tax > rates are roughly similar. It maybe be a few more % (single digit) as > a freelancer, but they are pretty similar for comparison.
Incorrect, it's 15.3% on the first $94K http://www.irs.gov/businesses/small/article/0,,id=98846,00.html Also, just because something is deductable does not make it free. Also your two biggest costs, Retirement and Health Insurance, which are subsidized by the tax code for salaried employees, are NOT deductable and come straight out of pocket. _______________________________________________ New York PHP Community Jobs Mailing List http://lists.nyphp.org/mailman/listinfo/jobs NYPHPCon 2006 Presentations Online http://www.nyphpcon.com Show Your Participation in New York PHP http://www.nyphp.org/show_participation.php
