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The taxes MTSO pays is money out of your paycheck. The MTSO does not pony - up their own money for your taxes. SM

Posted: Aug 12th, 2015 - 9:45 am In Reply to: Imedx, clarifcation on lines just this evening - Mess

The only additional tax that you will pay is the employer part of SS. Then you turn around and that part becomes a tax write off. You need to talk to a tax guy (CPA) about the many, many tax write offs you can take.

It has been discussed at MTStars the many different write-offs an IC can take. The fee for the tax guy is just one. Google IC tax write off to find others.

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Imedx, clarifcation on lines just this evening - Mess (Views: 1367, 2015-08-11, 11:16 pm)
- This makes no sense unless you share the specifics - nm (Views: 1152, 2015-08-11, 11:28 pm)
- IMX Clarification - StillintheDark (Views: 1185, 2015-08-11, 11:40 pm)
- Where did you get this info from??? - nm (Views: 796, 2015-08-12, 12:07 am)
- you need to leave NOW - anon (Views: 937, 2015-08-12, 3:09 am)
  - Agree. That's the first thing I thought of. They cannot require an IC to have - a minimum line count (Views: 862, 2015-08-12, 4:21 am)
    - actually, it's a little trickier than that - anon (Views: 715, 2015-08-12, 11:05 am)
- Incredulous and ridiculous - StillNoWord (Views: 884, 2015-08-12, 6:58 am)
- Lots of questions - StillNoAnswers (Views: 810, 2015-08-12, 7:12 am)
- No documentation of this yet.... - MT (Views: 946, 2015-08-12, 7:56 am)
  - They pay big time lawyers and will find a way.... - mt (Views: 1008, 2015-08-12, 8:42 am)
- Wouldn't you have to - sign a contract to be an IC? (Views: 720, 2015-08-12, 8:47 am)
  - CORRECT!!! - mt (Views: 748, 2015-08-12, 9:09 am)
- The taxes MTSO pays is money out of your paycheck. The MTSO does not pony - up their own money for your taxes. SM
- I have been IC over 20 years with various MTSO and have never - had to get a business license. nm (Views: 615, 2015-08-12, 9:48 am)
- You dont have to know how to do IC taxes, you just have to know - how to call a tax guy on the phone. SM (Views: 771, 2015-08-12, 9:54 am)
- DOL, Stat - StillMTing (Views: 909, 2015-08-12, 10:07 am)
  - Problem is - TheyHaventToldUsAnythingYet (Views: 712, 2015-08-12, 10:12 am)
- This is delusional - sm (Views: 739, 2015-08-12, 11:52 am)
- I haven 't gotten that one yet, but too late - I've made - gonesoon (Views: 743, 2015-08-12, 12:42 pm)
- I always thought their ultimate plan was to make us - all quit, then they (Views: 1495, 2015-08-12, 1:18 pm)
  - They already are making plans to hire 600 Indian MTs by the end of the year. - sm (Views: 676, 2015-08-12, 3:14 pm)
- If they are changing employees over - sm - DroneMT (Views: 701, 2015-08-12, 7:10 pm)
- You just got a 7.65% pay cut - SE tax (Views: 682, 2015-08-12, 8:48 pm)
- Yours is the latest information so far - Can you post it here (Views: 629, 2015-08-13, 3:13 pm)