Why might a person prefer to work as an independent contractor rather than an employee?

Questions:

  • Why might a person prefer to work as an independent contractor rather than an employee?
  • Why might a person prefer to work as an employee rather than an independent contractor?
  • Why would an employee prefer to be classified as "exempt/salaried" rather than "nonexempt/hourly?"
  • Why would an employee prefer to be classified as "nonexempt/hourly" rather than "exempt/salaried?"