yes you are right about the deductions. I am not sure if there is always a choice but you can at least try to find the type of contracting that suits you better:Delawaredave said:Do contractor agencies pay you under a W2 or a 1099 ? Do you have a choice ? If it is a 1099, I'm assuming you can be "set up as your own business" - with you as an employee - and deduct business expenses assoicated with finding/executing your contracting - correct ?
If it is a W2, my understanding is expenses are deductible only above an AGI percentage.
Thanks for any comments.
How about outsourcing management or CEO?I read an article about "Virtual Companies" - companies where nearly all functions are outsourced webs of independent contractors - teams are pulled together for products/projects from people around the world who collaborate electronically.