Similar telepsych positions... but one is 1099 and the other is W2, advice?

[sareeb1]

As the title says I’ve been offered two different telepsych positions except one has benefits and the other does not. The one that offers benefits pays around $20k less. What are some pros to being a 1099 contractor vs W2 employee and does the salary discrepancy make sense with the lack of 401k matching and benefits? Thanks!!!!

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[WisNeuro]

What's the numbers breakdown in how much the W2 position would be paying into a 401k with their matching on a yearly basis, and how much would you need to pay to get similar benefits (health/dental insurance, disability, life, etc). Alternatively, if you have a spouse with good insurance, how much would it be to get that on theirs? At a glance, a job only being 20k more for a pure 1099 position seems low. It's not something I'd accept in my field for a 1099 vs. W2 position.

 

[Indodo]

You should be able to figure out the cost of benefits.
1099 can give you benefits from deductions as your own boss but depends on how much you use it.
You can get deductions from w2 too.

Just put it up in a spreadsheet and compare.