Independent Contractors in Nursing - Special Academic Support

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An Advanced Nurse Practitioner (ANP) is a type of medical profession in which there are two ways to find employment. There is a more traditional way called W2 and 1099 an independent contractor. Considering the various aspects of these types of employment, it is possible to choose the most preferable type of registration for work individually. Both types of employment have advantages and disadvantages that must be carefully considered by the ANP and discussed with the employer.

The second type of transaction has significant financial advantages, since the hourly payment is usually much higher than the standard one. Often, high pay under an independent contract is discussed individually. Other negotiable terms and conditions of employment include medical practice violation insurance, however, liability insurance must be discussed with the employer. This is due to the fact that the cost of collection from an employee may exceed the insurance premiums issued by a medical institution.

The tax service in the case of employment under column 1099 considers the legal status of the employee differently. The more traditional type of employment implies that taxes are automatically deducted from the salary. In the case of 1099, it is required to pay taxes as a payer independent of the healthcare organization. Moreover, these taxes are multiple these are Medicare taxes, as well as taxes on self-employment and social protection (Pearce & Silva, 2018). Paying taxes on different principles is an unconsidered aspect of this type of employment. However, it is possible to take into account the amount of taxes and therefore demand a large salary.

The advantage of working on a standard form of employment will be the availability of bonus offers provided by a fixed traditional contract. In particular, the standard conclusion of the contract provides a paid vacation, which allows you to receive earnings while outside the work area. It also covers employee health insurance, disability insurance and a retirement plan that provides an inflow of wealth after the end of the job. The absence of a large number of taxes and the simplicity of the reporting form is also a big plus.

Reference

Pearce, J. A., & Silva, J. P. (2018). The future of independent contractors and their status as non-employees: Moving on from a common law standard. Hastings Business Law Journal, 14(1). Web.

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