IC Help/Advice - mgwood Posted: Aug 15th, 2018 - 3:20 pm In Reply to: IC Help/Advice - Laid off
just tell him you are starting out as an independent contractor; so he needs to track when he pays you and file a 1099 next fall with the IRS and send you a copy.
Keep in mind that in addition to not have anything withheld for federal/state taxes you will also need to pay a 15% self-employment tax. You should check with your tax return preparer about paying quarterly estimates to ease the shock in April. She/he can also give you some pointers on what deductions to can claim for being self-employed at home.
Good luck - remember anything beats working for NTS!
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- IC Help/Advice - Laid off (Views: 623, 2018-08-15, 11:58 am)
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