Comment Depends.. [Was: Contracting is the solution: yep] (Score 1) 222
I tend to disagree, although I haven't been in the contracting realm for long. Certainly you have taxes to worry about, but that's one of the reasons for having an accountant. If you so choose, he/she can handle all of that stuff. You just end up paying a bit more for the service. Certainly if you don't feel you have time to take care of it, get the accountant to. It is, after all, what they're trained for :)
The other thing is, one of the reasons I got into contracting is because I was tired of living hand-to-mouth - I want to be able to live comfortably and buy a new toy every so often. Doubling my effective income will certainly help with that.
I'd say do it if you can - job security these days is only marginally better if you're a permanent employee, and you get substantially less remuneration for your efforts.
One thing I'd add, though, is to have someone around who knows the ins and outs of the whole thing - my father's been contracting for over a decade now, and so I have someone to get the handy hints from :)
Simes.
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The other thing is, one of the reasons I got into contracting is because I was tired of living hand-to-mouth - I want to be able to live comfortably and buy a new toy every so often. Doubling my effective income will certainly help with that.
I'd say do it if you can - job security these days is only marginally better if you're a permanent employee, and you get substantially less remuneration for your efforts.
One thing I'd add, though, is to have someone around who knows the ins and outs of the whole thing - my father's been contracting for over a decade now, and so I have someone to get the handy hints from
Simes.
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