INCOME COMPARISON TOOL
The Real Financial Difference Between Locum and Employed Medicine.
Locum income looks higher on paper. This tool shows you whether it actually is — after accounting for benefits replacement, self-employment tax, and the deduction opportunities that 1099 status creates.
Your Information
Employed (W-2)
Health insurance, retirement match, CME, etc.
Locum Tenens
Gross 1099 income
True Net Income Comparison
Locum advantage: $62,802/year (+31%)
Employed (W-2)
Gross Salary$300,000
Benefits Value$45,000
Total Compensation$345,000
FICA Taxes-$13,798
Federal Tax-$70,265
State Tax-$15,000
Retirement (401k)$23,500
Take-Home Pay$200,937
Locum Tenens (Optimized)
Gross Income$450,000
Business Expenses-$36,000
Net Income$414,000
FICA (S-Corp)-$25,796
Federal Tax-$80,765
State Tax-$20,700
Benefits Replacement-$23,000
Solo 401(k)$69,000
Take-Home Pay$263,739
Disclaimer: This comparison uses simplified tax calculations and estimates for illustrative purposes. Actual results depend on filing status, deductions, state-specific rules, and individual circumstances. Benefits replacement costs are estimates. Consult a financial advisor for personalized analysis.
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These estimates are starting points. A strategy session applies them to your specific income, structure, and goals.
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