What are the benefits of being paid as an employee through a Payroll Service?
There are several financial, organizational, time-saving, and marketing benefits that you may not have considered. In general, being paid as an employee: • saves you money on FICA and Medicare contributions • can help you save on taxes by adjusting your pay frequency • helps you organize your documentation for tax filing • provides workers’ compensation insurance at no cost to you Q: Can you give me more details on FICA and Medicare contributions? How does that benefit me? A: You get a significant financial benefit which increases with the amount of your wages. Now, our client pays the employer portion of several payroll tax and insurance fees. For example, through SHOOTS.com, our client makes a contribution of 7.65% of your gross wages to FICA and Medicare on your behalf. When you work as an Independent Contractor, you pay the entire FICA and Medicare amount! In addition, when paid as an employee through SHOOTS.com, you are covered under our Payroll Service’s Workers’ Compensation pla
