WASHINGTON (WUSA9) -- Dr. Robert Brown, the author of Economic Stress: Harsh Truths and Keys to Empowerment, shares with WUSA 9 the pitfalls to becoming an independent contractor.
According to Dr. Brown, being an independent contractor or a "1099er" means you get the sole responsibility of paying all your taxes. This includes: federal taxes, state taxes, and the employment tax (including Medicare and Social Security). Also, you are responsible for your health insurance and the retirement you may have.
Click the video for more information about the benefits and costs of being a "1099er."