Don't let people scare you away from being an IC - CC Posted: Jul 14th, 2017 - 1:16 pm In Reply to: How to save for taxes for IC position - Luckyacew1
Just because of taxes. Keep a separate account and move 20% of your paycheck to it and don't touch it until tax time. Yes, you are supposed to pay quarterly taxes, but I didn't and just owed a lot at the end of the year. I was penalized this year by my state a whole $20. Not the end of the world. Being an IC is worth it; just be smart with your money. You can pay the IRS online each quarter if you'd like or there are coupon books you can mail in. Just keep track of what you have paid them and note it when you do your taxes at the end of the year.
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