Pros and Cons of Independent Contracting as an Occupational …

Pros and Cons of Independent Contracting as an Occupational Therapist. by Morgan Kurtz, MS, OTR/L. Truthfully, being an independent contractor was something I excluded from my job search for a while as a new grad, but after living in a condensed area with several occupational …

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Pros And Cons Of Hiring Independent Contractors | Nolo

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Oct 4, 2024 · Up to 25% cash back · There are several major advantages to using independent contractors rather than employees, with financial savings topping the list. You will probably …

FAQs about Pros and Cons of Independent Contracting as an Occupational … Coupon?

What are the benefits of being an independent contractor?

You might earn more as an independent contractor, and the tax benefits can include deducting your business expenses. The drawbacks to being an independent contractor include more responsibility. Independent contractors must fund 100% of their Medicare and Social Security taxes, health insurance, and retirement. ...

What are the pros and cons of Independent Contractors vs employees?

Pros and cons of independent contractors vs employees. There's significant risk in taking on a contractor that you intend to have working closely with employees. Misclassifying workers as independent contractors when they should be classified as employees can expose employers to significant liability and legal penalties. ...

Is being an independent contractor better than being an employee?

John Steven Niznik writes about careers and other job-related topics. The advantages of being an independent contractor over being an employee include more control since you're your own boss. You might earn more as an independent contractor, and the tax benefits can include deducting your business expenses. ...

Is an independent contractor employed by a business?

An independent contractor is not employed by a business—instead, they work with a business as a third party. Independent contractors typically do not receive the same rights afforded to employees and are responsible for their own retirement plans, insurance and other benefits.When you work as an independent contractor, you are an individual entity. ...

Should you hire an independent contractor?

Hiring an independent contractor does offer several advantages to businesses that need to access specialized skill sets temporarily. However, the decision to work with an independent contractor needs to be considered carefully against some of the potential drawbacks. Here are some of the advantages of working with an independent contractor: ...

What are the advantages and disadvantages of independent contracting?

Of course, there are both advantages and disadvantages to independent contracting. Let’s take a look. Contractors enjoy a great deal of freedom. They get to be their own boss and are able to work where they want, when they want. Imagine being unaffected by long commutes or office politics that make some work environments awful. ...