Gross salary 50K, you work for someone vs self-employed , would you pocket less in the latter due to SE taxes?

Question

Thanks for all your answers!

Answer 1

You would be out-of-pocket for the S/E tax (7.65%) if you were considered self-employed.

Answer 2

Yes. Working for someone usually means you get fringe benifits which can substancially add to what your job is worth.
Being self-employed is nice because it generally means you can work from home and make your own hours.
If someone is telling you were to be and what time, then the IRS dicates that you should be employed by that person and not an independent contractor.
I guess it just depends on what you want. For me, when my daughter was little I loved the flexiblity of being self-employed. Now I like the benifits of being employed by my employer.
But you do take home more if you re employed.

Answer 3

Yes. 7.65% less to be exact. That assumes that the SE income is net of all business expenses.