[onewhippedpuppy]

I have a possible opportunity coming up with a former boss now at a new company, from what I know it is something I am seriously interested in. The only catch is that the position would be contract for approximately one year, at which point they will be looking to bring me in direct. Obviously lots of questions surrounding that theme (why not direct now, what are the odds of direct, what are the dependencies, etc) but I wanted to gather some information on working as a contractor. My wife and I are working on figuring up my current total compensation as a direct employee as well as everything that we will be responsible for if I go contract. My list so far:

Vacation
Sick Time
Paid Holidays
401k contribution/match
Health insurance/vision/dental
Short/long term disability
Life insurance
Social security employer match
Tuition reimbursement
Higher taxes due to increased hourly rate and no employer deductions

The idea is that my contract pay - everything that my employer used to pay - now higher taxes = same or more (preferably) take home pay. What other things do I need to look at or take into account?