What Compensation Am I Missing as an Independent Contractor?
Being paid as an independent contractor sometimes looks like a good deal on its face- there are no taxes deducted from your paycheck, and contractors sometimes get paid a higher hourly rate than W2 employees.
There are important things you are missing, however, that you should consider when agreeing to work as an independent contractor. These include:
In the end, classification as an independent contractor is not usually beneficial for the person doing the work. This means it is to your advantage to ask to be paid as an employee. Even if you have no say in that decision, you could have a legal claim against the employer to recover these missed wages and benefits.
Learn more here about the Massachusetts Independent Contractor Law.
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