I’ve always worked contract work. I do a service, people pay me “cash”. I report that as self-employed business on my taxes. Simple.
One company wants to hire me for for 40 hours per month, but states they can only do so as a W2 employee.
How will this affect me? I know I won’t have to pay as much taxes. Is there anything else to consider?
Medical, PTO, etc I don’t need and won’t receive as a part-time employee.
Does my status as a Digital Nomad come into consideration?
You must log in or register to comment.
It’s imperative that you lay the foundation of getting a high demand skill set first, then follow your passion as a digital nomad. Find out more:
W2 is not really freelancing. You’d be an actual employee.
Ultimately this different structure wouldn’t change your tax burden; you’d pay the same in taxes on the same amount, just at a different time. Your payroll and income taxes will be withheld, so your checks may appear smaller.
And the company may be liable for benefits.
If you are travelling, the company may take on legal liabilities for you in whatever territory you’re in, so they’d for sure want to know where you are at all times.