Question:

Distinction Between Independent Contractors and Employees" Please respond to the following:

After reviewing the scenario, identify at least three (3) key benefits that you could negotiate with your employer or potential employer that could reduce your tax liability. Provide specific examples of such benefits.

Imagine that a potential employer has given you the opportunity to work as either an employee or an independent contractor. Identify at least three (3) pros and three (3) cons of each option.

Discuss the primary tax consequences or tax deductions of each classification that you believe provide the greatest opportunity to reduce your overall tax liability.

Provide support for your rationale