In this episode of "Money Meets Medicine," hosts Justin Harvey and Dr. Jimmy Turner discuss the financial pros and cons of working as a 1099 independent contractor versus a W-2 employee, focusing on tax implications, benefits, and administrative responsibilities. The hosts emphasize the need for professional financial guidance and encourage listeners to carefully weigh all factors—including taxes, benefits, and personal preferences—when evaluating job offers in medicine.
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Timestamps by PodSqueezeCertainly! Here are the top 5 bullet points, keeping the same format, content, and context:
Introduction to 1099 vs W-2 (00:00:00)**
Hosts introduce the episode’s focus: comparing 1099 contractor and W-2 employee pay for medical professionals.
Highlights:
Tax Differences: Employer vs Employee Side (00:07:29)**
Apples-to-Apples Comparison: Taxes, Malpractice, Benefits (00:10:41)**
Complexity and Costs of Self-Employment (00:17:28)**
Rule of Thumb: 1099 Should Pay 20–30% More (00:25:15)**
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