<prompt> Human: Just got a new job offer and I do not know the difference or benefits looking for some reddit help  <response>: PayrollPROS Company benefits, if they exist retirement, health, dental, life, etcetera Company pays half of FICA 7.65 of 15.3 Company responsible providing equipment to do your job Generally better job securityCONS Possibility of lower income due to the PROSFor contractor, reverse the pros and cons. You are on your own for benefits, you have to pay the full FICA 15.3, must provide your own equipment, more paperwork, etcetera. A higher pay check generally offsets this. You do get the benefit of making business deductions come tax time. 