donkylegs, it isn't tough, but keep in the back of your mind (not what the company says) what AM said about you not being an independent contractor incase they stiff you, don't give you warning of it terminating, etc. They want a full out employment contract. That is a bit odd for an independent contractor. If you need help setting up the contract, you can pm me, as this is what I do. Or take a look at Docstoc.com They have some stuff up there, but be careful, it isn't necessarily all the greatest things there, after all they are free.

Keep in mind things you can put in the contract or things you may purposely want to leave out, such as IP. Do you want access to or want to own the IP of the work you do? Do you want to give it to the company?

Regarding Taxes, make sure that you leave some money in the back to account for this, probably about 25% or so.

Cheers,
Jeff