1099 vs W-2: Which Employment Type is Best for Mental Health Providers?

In this episode of the Sit and Stay podcast, hosts Parker Anderson and Thomas Tarshis discuss the key differences between contract work and W-2 employment in the mental health field. They explore legal definitions, tax implications, benefits, and protections associated with each employment type. Whether you're a mental health professional or a practice owner, this episode offers valuable insights to help you make informed decisions. 0:00 Introductions 2:48 What are the differences between contract and W-2 work for solo practices? 5:38 What type of business has a Schedule C? 7:20 Why are "Corporations" significant to mental health providers? 10:49 What factors should be considered when picking between W-2 and contract work? 15:11 What are the benefits of picking contract work? 26:39 What are the benefits of picking W-2 work? 32:19 Is there a legal threshold for worker hours to earn benefits? 36:08 The Mental Health Business Moment of the Week 42:01 Conclusions