Sure...crude ballpark.
IF you make $700/week self-employed contractor (no significant business expenses)...vs. exactly the same $700/week W-2. You'll pay ~7.65% more in taxes as an independent contractor (Self-Employed)...because you have to pay both the sides of the SS and Medicare taxes....not just the employee side.
That assumes no significant business expenses. Or about $2600 more for a 50-week working year (roughly)
In either case, you have regular income taxes on top of that.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
