Working As A Consultant Is Something Different?

[Guest deltakid]

Hi,

my company now wants to employ me as a consultant because it is better in terms of tax for them. Whats the difference between a regular full time employee and a consultant? Are there any advantages or disadvantages for me being a consultant?

[BKK90210]

Hi,

my company now wants to employ me as a consultant because it is better in terms of tax for them. Whats the difference between a regular full time employee and a consultant? Are there any advantages or disadvantages for me being a consultant?

I have my own engineering company. I'm in the US and this is how it works

If you're an employee, the company is responsible to pay the government many employee taxes such as social security, medicare, match 401k pension plan, unemployment tax, or be responsible for the work permit's paper.....etc.

But if I hire you as a consultant

Consultant is like an independent subcontractor, not an employee of the company. Therefore you have to pay every taxes related to your business doing on your own, not the company, and also you will be responsible for your own work permit. But the advantage is you're your own boss, therefore you will be free to do your own consulting works with many other companies at the same time.

Hope this help....but others might have a different interpretation

Edited February 9, 2006 by BKK90210

[jayenram]

Just to add a little to the above, a question:

Will you be employed by an in country company or an overseas company, e.g operations in Thailand for a Thai company or operations in Asia for a US/UK company?

[Guest deltakid]

Just to add a little to the above, a question:

Will you be employed by an in country company or an overseas company, e.g operations in Thailand for a Thai company or operations in Asia for a US/UK company?

thanks for the answers so far!

i will be employed by a thai company