I just received an initial job offer for a contract position as a PHP developer. I have never had a contract position before, so I don't know what the implications of this are, and how it differs from a salaried position with benefits. =/

What are some things that I should be aware of before accepting the contract position? (i.e. taxes, wages, benefits, etc)

It also mentions that I will sign a "day-to-day contract". What does that mean?

Resources

Here are some links that I've collected so far:

• First timer's guide to contracting - Covers contracting in the U.K., but not the U.S.
• The contract employee's handbook - Talks about the differences between a "Contract Employee" and an "Independent Contractor"