Semi Equipment Analysis Message Board

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Technology Stocks : Semi Equipment Analysis

SOXX 306.04

0.0%

Dec 26 4:00 PM EST

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To: michael97123 who wrote (17740)	8/9/2004 12:34:28 AM
From: Nancy	Read Replies (1) of 95640

Sorry, I am lost. I dont know why she would have to make about $1500 to net 900 if she work for a corp. If you mean because she would have to get social security tax, etc taken out in order to net $900, then you are omitting an important fact. If she doesn't report that income and doesn't pay self-employed tax (twice of that of the 7.5% FICA + Medicare), she would not accrue any credit on her social security records and her future retirement check from government would be less (not that it is great anyway). Plus she has no medical benefit, no holiday, no vacation pay, since she is self-employed. I really cannot see the logic there unless you can give me a more detailed explanation. I am speaking from the standing point that I was self-employed for a while and I also was a CPA by training in my previous life.

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