While there are many compelling reasons to work freelance, there are also some pretty great reasons to have a job with a traditional W2. Only you can make the best decision for your work life, but it’s important to know the benefits of each type before making that decision. Here are a few of the most important benefits of having a job with a traditional W2.
One of the main benefits of a W2 job is that it comes with a lot of job stability. That means that you have certain protections that will ensure you aren’t let go for no reason and you will likely have a pretty regular schedule. Those things help you to plan for the future and to schedule your day-to-day life in a way that makes sense for you and your needs. According to Runrun.it, having stability is also important to cultivating a strong work life balance and feeling more secure in your work on a regular basis.
W2 positions, if they are full time, also provide you with other benefits like paid time off and insurance. These benefits can make your life a lot easier and help you to have a little bit of flexibility and security if you are injured or become ill. If you have kids, it is even more important to have a job that provides you with benefits. According to Maccaro Pediatric Dentistry, kids often have dental issues like cavities, where dental insurance can come in handy. Working freelance means that you will need to pay for your own insurance which can be expensive and frustrating.
One of the most difficult parts of working a freelance job is that you have to handle taxes all on your own. Taking care of your own taxes is difficult since it requires you to withhold the money yourself and make sure that you don’t overspend throughout the year. The tax rates also tend to be higher when you are working as a contractor. When you work a W2 job, you have your taxes withheld from you upfront which puts you in a much better financial position and max tax season a lot easier to deal with.
Working a stable job that provides benefits can make your life a lot easier and less complicated. While there are benefits to working for yourself, there is a lot to be said for having a normal job that gives you stability. When you are taken care of by your work, it is much easier to take care of yourself.
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