1099 CRNA Institute: Thrive as your own boss-What am I Giving Up as a W-2 Employee?

What am I Giving Up as a W-2 Employee?

Video Transcription

Video Summary

In the video, Sharon discusses the pros and cons of transitioning from a W-2 position to a 1099 position as a CRNA. She highlights the key things to consider when making this change, such as giving up group benefits like medical and disability insurance, retirement plan contributions, and paid time off. Sharon also breaks down the FICA tax match and discusses the impact of losing employer contributions. While the transition entails additional costs, the freedom and flexibility of a 1099 position are emphasized. Ultimately, the decision to switch should be carefully evaluated based on individual circumstances and the financial implications.

Keywords

transitioning

W-2 position

1099 position

CRNA

financial implications