1) W2: 55*2000 hrs = $110,00
missing infomation:
How about: 401 K match?
Any pension plan?
Any annual bonus?
2) Contractor : 60*2000 hrs = $120,00,
you need pay extra social security 105000 * 6.75% =7087.5
so the equivalent to choice 1) = 120000 - 7080 = 112920,
you can allocate $30,000 SEP account for your retirement.
Seems that W2 is better based on
1) regular job is more stable, less stressful,
2) regular job may have bonus, and 401 K match
3) you can expect annual increase for regular jobs, which may at lease offset the inflation.
