MM you need to talk to a financial advisor not another freelancer. Everybody has different situations and styles of living. This isn't a decision to be made by a forum. There are way too many scenarios. Grab a tax form and do some math.

Sorry... "yes" to which? 150%+ of salaried gross OR net?

150% to 180% of your staff salary GROSS or staff salary NET?

I think the formula is that you need to make 150% to 180% more than a staff salary to be the equivalent in freelance or owning your own business. That is, of course, if the compared staff position has a decent vacation, health/life/long term disability insurance and pension package.

TAXES: For those who have worked in both worlds, where is the greater tax benefit: having a full-time employer pay with you, or paying all of your taxes and working write-offs yourself? Does it vary case-by-case, or is one plan universally superior?

I have been full-time freelance for 7 years and every year I have less days off than I had the year before...every year I earn more cash...I can't lie the hours are tough (no they suck especialy having 2 small kids at home) but I am able to make my own days off and I am somewhat picky about gigs I take. One of my clients is a local station after an 8 hour day I'm so glad its not my regular gig the corporate culture is so hard to take. So I say go freelance and never look back

[quote="Scott Dailey"]P.S. Eric. where do you sit? I have been looking for a benificiary to pay for sitting around. I seem to have all this extra money from free lancing that I don't know what to do with.[/quote] I have this couch, and normally I'm on the second cushion from the right. I can shoot you my mailing address if you need a place to send your extra money, or you can just Paypal it to me, that's cool too.

When I first started free lancing, my wife and I had benefits through the school district she was employed by. When babies started happening, she stopped working (outside the home) and we went to a policy directly from an insurance company. If you are in an area where you are represented by a union, you can take advantage of a group insurance policy. If you pay ALL of the costs of insurance, it is deductible. If, as is my case, someone else contributes to an account that goes toward your insurance, none of the amount you pay is deductible. (at least according to my accountant). That is a shady area that I know some people deduct and others don't. I don't because my accountant says not to. I also deduct my computer as a business expense. Almost all cewing is done via the internet now so it is a valid business use. Parking, tolls, travel expenses, entertrainment while traveling, business meals, Ask anyone you know who free lances what kind of things to deduct. Keep ALL of your receipts. You may need them one day. get a small accordion file to organize your stuff so it is all in the same place at tax time. Most importantly, if you don't know ask your acountant. It just might be deductible. Scott P.S. Eric. where do you sit? I have been looking for a benificiary to pay for sitting around. I seem to have all this extra money from free lancing that I don't know what to do with.

VPN into a PC running Kalypso menu attached to a Kalypso in the truck / studio from your PC at home. But seriously... Folks who are completely self-employed: what items to you buy for yourself, in terms of insurance, etc.? I think I have a good idea, but I just want to be sure. Has anyone done the drill of leaving the staff world, and attempting to emulate your former benefits package with self-supplied benefits? Are these costs tax-deductible?

I don't freelance for the money. I freelance because I'm lazy, and if I end up working 5-10 days in a given month, I look at it as a plus. Now if I could just figure out how to get paid while sitting at home, I'd be all set.

It's possible to do both. I don't work in news, but at a public/university TV station. It's a great place to get experience, and they allow plenty of time off so I can go freelance quite a bit. A few years ago I did about 20 remotes a year for my regular job, and another 6 or so freelance. Now it's about 25 regular and 20 freelance. Weekends are overrated anyway... So if you can get days off, you can do both.

When you free lance, you "make your own raise". If you begin to excel at your craft, you begin to get higher paying offers. Working when you want is a definite plus. Yes, you are dependent on the schedules of the sporting events you do, however, to some extent you can choose to say no. Say it too often and you won't get hired. As far as the financial rewards. In my experience,the rewards are much better as a free lancer than working at a station. No creative accounting required. I use an accountant to do my taxes. He costs about a day rate or a little more, depending on how much 1099 work I have done. His knowledge is very much worth his fee. If you want to save for retirement, a financial advisor is a must. My advisor charges an upfront percentage, but there are others as well. The advantage you get is not only his expertise, but investing in a "pool" of money. Make sure you take advantage of all the laws that help you save on taxes.. Deduct your mileage, keep your receipts. Did you take a training course? Deduct the cost as a business expense. Ask your accountant. That is what he is there for. Do you get a raise moving from full time to free lance. Probably not at first. It takes awhile to get started. I worked less hours for about the same money my first year. I got a nice raise every year there after for the first few years. Learn to live on a budget. Your checks don't come every two weeks. Now, where the heck did my dog go? Scott

...and let's assume the likely obvious given: In terms of *content*, even the most obscure sporting event is easier to take than current-day TV "news" with its 2:45 exposes on how your pets are less likely to run away if you keep them on leashes, or what celebrity is in rehab wearing a cupcake as a hat. Peace