Physician Contract Glossary · Contract Structure
Independent Contractor Agreement (1099)
An independent contractor agreement makes you a 1099 contractor, not an employee, so you carry your own taxes, benefits, and often malpractice.
Under a 1099 arrangement you are not an employee. You provide services under contract, the practice does not withhold taxes, and you are responsible for self-employment tax, your own benefits, and frequently your own malpractice coverage. Gross pay is usually higher than a W-2 equivalent to offset those costs, but higher gross is not higher net until you run the numbers.
Calculate the real difference after self-employment tax, benefits you must buy, and malpractice you must carry. Also confirm the classification is legitimate, because misclassified contractors create tax and liability problems that land on you.
Related terms
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