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do you have to pay self-employment taxes? - BEB


Posted: Apr 23, 2012

If you are an independent contractor, do you have to pay self-employment taxes?

Yes. ALL taxes are your responsibility. Probably about - 20% of income. nm

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Independent Contractor - greyhound mom

[ In Reply To ..]
You are responsible for all taxes. They should be paid quarterly. Otherwise at the end of the year, you are stuck with a big tax bill.

I have a tax preparer, and she lets me know exactly why my quarterly taxes are for the following year.

my bottom line percentage of tax is 40% - NM

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