Elle has income and deductions as a C.P.A. for 2019 that are summarized as follows:

Salary and bonuses $149,500

Reimbursed employee business expenses 11,250

Unreimbursed employee business expenses 2,200

Elle's employer provides medical insurance coverage (for herself and her immediate family) worth $1,050 per month and matches her $500 per month depositin a personal retirement account.

You may assume that Elle pays a flat income tax of 18%.

1. Calculate Elle's net after-tax cash flow from this job.

2. Briefly (no more than 200 words) describe two advantages and two disadvantages of employee status (compared to being self-employed).