Pros and Cons of IC status. - Question Posted: May 25th, 2017 - 4:39 pm
A new job just informed me that as an IC, they would withholding my taxes. I am assuming this includes the 12% tax we pay (7.5% is usually paid by employers if we are employee status).
Is this a good thing or bad thing? The full check comes in handy albeit it haunts, however, I have heard stories about the money not actually sent into the fed/state until end of year, which I could do myself if that were the case. At least I'd have a check which could cover my rent (850.00). I have not been an IC and had taxes withheld so am curious if anyone else has.
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