Sunday, August 5, 2012

W-2 or IC for this Orthodontist?


I was initially offered a full time job at this big office as an employee orthodontist. Paid on collection. However I was told by my financial advisor to ask to independent contractor and even though they did not prefer that but they did offer higher % on collection and I will be responsible for ALL consumable supply.

My question is: should I accept the job as an employee or independent contractor in this case?

It really depends on you and your particular situation - maybe yes, maybe no.

What are the benefits as an IC for me over employee options?

Should I form a S-Corp?

Since your "financial advisor" advised you to ask to be an IC, didn't they go over these issues with you? What were their reasons for advising you to be an IC and what did they say you stood to gain by doing so and what were the disadvantages? Hopefully they covered all of these issues with you as part of their advice. They know more about you and the situation than we do and are in a better position to answer these questions.

Thank you very much. 

Didn’t the advice come with some sort of analysis showing you why the suggestion of being an IC would be more beneficial than employee?

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