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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