Contractor or Employee?
I need help deciding whether to be an Employee of a company or a contractor. When I am a contractor, I am basically stating my company is my client and am charging for my services. So responsibility of tax is on me. And I have heard that businesses can declare 50% of revenue of as expenses. Thereby saving alot on tax ( not that knowledgeable in this ) But being an employee, the company will handle the taxes ( I become an employee of an agency and my company hires me from this agency) Can you all please guide me what option should I take? How do freelancers handle their taxes?
Obviously contractor whenever you can.
Unless your company is public and giving you shares or you see potential in startup which only grants esops to employees, there is no other benefit or being an employee.
You can buy those health and terms plans with the shit ton of taxes you are gonna save.
Employees have paid leaves n public holidays in India . Contractors, they just gotta do 40 hours a week by hook or crook.
Coy Carmden
Stealth
7 months ago
Working on contract basis will always save you taxes
