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Does anyone have any experience or knowledge on this topic? I am close to graduation and was told years ago by a very successful practicing PA that when I was ready to begin working I should look into incorporating myself. I have done some research online and can honestly not find any information relating to this.

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It depends on where you are going to work. If you work as a contract provider then you will receive a 1099 at the end of the year, and there will be no withholdings. The bad things about this is you are responsible for all taxes, include self-employment taxes. The good news is you get to write off every single "business expense" relating to your job, including $0.55 for every mile you drive for work related travel. Need clothes? Insurance?? Office equipment??? Office space???? All can be written off before you figure tax rate.

 

I work two jobs. My primary job is as a contract provider and I started a LLC (laws vary by state). My secondary job is for big hospital where I am paid as an employee.

 

Do you have a job lined up yet? If so, do they give you the option of being paid as a 1099??

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It depends on where you are going to work. If you work as a contract provider then you will receive a 1099 at the end of the year, and there will be no withholdings. The bad things about this is you are responsible for all taxes, include self-employment taxes. The good news is you get to write off every single "business expense" relating to your job, including $0.55 for every mile you drive for work related travel. Need clothes? Insurance?? Office equipment??? Office space???? All can be written off before you figure tax rate.

 

I work two jobs. My primary job is as a contract provider and I started a LLC (laws vary by state). My secondary job is for big hospital where I am paid as an employee.

 

Do you have a job lined up yet? If so, do they give you the option of being paid as a 1099??

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I do not at this time. I am looking into several jobs in ortho. Some are for bigger hospitals while others are in private practice. How does this type of setup affect the employer? is there benefits to hiring a corporation as opposed to the individual?

 

It will depend on if your job will even offer you the option of being a contract provider. The big hospital where I work part time doesn't do it with midlevels. Period. They hired me as a PRN employee, not as a contract provider, so they withhold all taxes, etc.

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I do not at this time. I am looking into several jobs in ortho. Some are for bigger hospitals while others are in private practice. How does this type of setup affect the employer? is there benefits to hiring a corporation as opposed to the individual?

 

It will depend on if your job will even offer you the option of being a contract provider. The big hospital where I work part time doesn't do it with midlevels. Period. They hired me as a PRN employee, not as a contract provider, so they withhold all taxes, etc.

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