What are the different tax implications with a W9 vs. being a full time employee?
Asked by BJ
I recently went freelance as a sole proprietor this year. Recently I have been doing contract work for a company under a W9 where I handle my taxes. They have recently offered me a full time position doing the same job at the same pay. Outside of other obvious benefits, will I pay more or less taxes as a full time employee? If it's different how much different?

Best Answer:
As an independent you are responsible for the Social Security and Medicare taxes paid by the employee and employer, 15.3%. If you take the full time position you pay 7.65% (6.2% & 1.45%).