I learned a whole NEW Important lesson, that I took for granted for many years!! I guess you could call me unmindful to see the truth of what the relationship between employer and employee really was. I have always looked for the good ole dollar to get me and my family by. I always saw things from a different perspective and now... WOW....
See I was a 1099 employee for many years., which only paid self employment tax along with personal at the end of the year. I also worked as a W-2 employee, with many perks to offset my 1099's. Once I became Incorporated... This is when I woke up and smelled the coffee, and realized that the Grass Isn't Greener on the other side of the fence.

 

But when someone explains to you about your benefit package. Most people see just the $$ per hour. They don't look at the rest of the picture, as I hadn't. I found myself blown away in how much taxes the employer puts in along with bridging the insurance gaps so you can have a decent insurance for your health and life and what nots. Again, most people only see the $$ per hour or annual along with how much am I getting a raise at the end of the year. The vacations and sick time are another perk, that I also took for granted.

 

Now that I am on my own so to speak. It was a hard lesson to learn, when people talk about oh you make more money now that your on your own, but they never consider that your shelling out just as much if not, more to taxes and insurance that their employer is paying on your behalf. Hence, "Benefit Package" So, in reality, where I left off with my w-2, and what I make now, it's pretty comprehensive and basically after all the employer, employee, and insurance expenses.. Your basically making the same amount as a W-2 person without all the perks.

 

When your on your own.. Those holiday, vacation and sick days are not paid for unless you work or have money budgeted in. Otherwise it's a day's less pay or two. Which does hurt the bottom line. VALUABLE LESSON TO BE LEARNED.. Too boot about it.. You get paid for services rendered under your business name, and there is a 3 day hold on the funds by the bank, because it wasn't written out to you. Then in the mean time you have to figure out all the deductions before Net Pay. Changing my business to become and Inc. has opened my whole new world and again.. WOW.... Mind Blowing :) 🤑