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In USA you make less money every paycheck because of a "hidden" tax

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posted on Nov, 18 2018 @ 12:05 PM
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Let's not forget contract workers.

The businesses with contract labor pays a flat fee and the staffing or temp service takes care of all the taxes, fees, insurance, etc. The temps get at least $2 an hour less than the hired in employees. That would be at the very least $80 a week the temp would loose compared to the hired employees.

Of course, contractor workers can be hired directly and they have the burden of the taxes and fees. The contractors even subcontract workers themselves.

If you want to have full control over your wages, then do contract work or do it under the table then report it to the IRS how you want to. Also, you can deduct a lot of expenses with a home based business, so you can put your money back into your hands that way as well. If you do your own taxes correctly, or have a good accountant you can trust, your contracting business can be completely above board and you will have full control over your gross income.
edit on 18-11-2018 by MichiganSwampBuck because: (no reason given)




posted on Nov, 18 2018 @ 01:05 PM
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a reply to: Fools

Yes, you did give that conveyance. No matter; apology accepted; all is good.


As to FICA... to my viewpoint it is a very minor annoyance. The healthcare requirements are orders of magnitude greater, as are the support costs. Obviously every business owner wants to reduce costs as much as possible, but in the grand scheme of cost... meh.

TheRedneck



 
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