Oct
22
How does an independent contractor handle taxes?
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JL’s Mom asked:
My husband a trucker and considerd and independent contractor. They do NOT take taxes and the like out of his paychecks. How do we go about paying the tax? We were told we needed to file paperwork every 3 months and that we should be holding x amount back, but what paperwork we need to file and how much to hold back is a mystery. Do we have to have an accountant or can we just do this ourselves? ANY information would be helpful. Thanks!
We have an accountant now and she is taking care of that aspect AND our household bills-the problem is our morgtage is repetedly late and there have been a few times the utilities have been turned off on us. I was just wondering if we could do this ourselves or if we should just let her keep handleing things?
To file ourselves what forms do we need and where do we get them?
Does the size of the household have any effect on this??
RAUL
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My husband a trucker and considerd and independent contractor. They do NOT take taxes and the like out of his paychecks. How do we go about paying the tax? We were told we needed to file paperwork every 3 months and that we should be holding x amount back, but what paperwork we need to file and how much to hold back is a mystery. Do we have to have an accountant or can we just do this ourselves? ANY information would be helpful. Thanks!
We have an accountant now and she is taking care of that aspect AND our household bills-the problem is our morgtage is repetedly late and there have been a few times the utilities have been turned off on us. I was just wondering if we could do this ourselves or if we should just let her keep handleing things?
To file ourselves what forms do we need and where do we get them?
Does the size of the household have any effect on this??
RAUL
Oct
16
I’m an independent contractor. How much should I deduct from my wages for taxes (federal, state, etc)?
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LEKI asked:
I’m currently working as an independent contractor in LA. This is a first for me since I’ve always been an employee in a company. How much should I deduct from my weekly wages to cover for all the appropriate taxes (federal, state, social security, etc)? I don’t want to end up paying a bundle at the end of the year. I’ve also heard something about self-employment taxes. Any advice? Thanks!
JOSH
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I’m currently working as an independent contractor in LA. This is a first for me since I’ve always been an employee in a company. How much should I deduct from my weekly wages to cover for all the appropriate taxes (federal, state, social security, etc)? I don’t want to end up paying a bundle at the end of the year. I’ve also heard something about self-employment taxes. Any advice? Thanks!
JOSH
Oct
15
How do I pay a foreign contractor that is in another country? How does taxes work in this case?
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Valerie L asked:
The contractor has a US bank account. If I choose to fill out W8 form. Do I have to ship or deposit the money to the foreign bank account or can I deposit the money to their US bank account?
STEVIE
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The contractor has a US bank account. If I choose to fill out W8 form. Do I have to ship or deposit the money to the foreign bank account or can I deposit the money to their US bank account?
STEVIE
Oct
11
As an independent contractor should I start an LLC?
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Nutsogood asked:
I am starting a career in 100% commissioned sales as an independent contractor paid through a 1099. The business will have general office expenses. Would it be a tax benefit for me to start an LLC and have my checks paid to the LLC.
DWIGHT
I am starting a career in 100% commissioned sales as an independent contractor paid through a 1099. The business will have general office expenses. Would it be a tax benefit for me to start an LLC and have my checks paid to the LLC.
DWIGHT
Sep
12
If I work as an independent contractor how do I pay state and federal taxes?
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jakealtamon asked:
If I work as an independent contractor how do I pay state and federal taxes?
If I work as an independent contractor how do I pay state and federal taxes?
Please briefly explain each.
LESLIE
Aug
22
what exactly is a independent contractor and how is it going to affect my taxes?
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lizdylan2003 asked:
i’ve been offered a job as an independent contractor. since i have no idea what that was i researched it and it somewhat makes since. but…. how is this status going to change my taxes and what eligible expenses (write-offs) can i expect? i’m not understanding the tax part of it…. is it good or bad? thanks in advance for your time!!
LUCIEN
i’ve been offered a job as an independent contractor. since i have no idea what that was i researched it and it somewhat makes since. but…. how is this status going to change my taxes and what eligible expenses (write-offs) can i expect? i’m not understanding the tax part of it…. is it good or bad? thanks in advance for your time!!
LUCIEN
Aug
5
How should an independent contractor handle his or her taxes?
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CaTHeRiNE O asked:
The employer does not withhold federal tax, medicare, or social security. Should the contractor pay taxes quarterly, or just wait until the end of the year? Is this how people fall into debt with the IRS? Thank you for you help.
In addition, the independent contracter makes about $12 an hour, and is paid every tuesday about $500.
GENARO
The employer does not withhold federal tax, medicare, or social security. Should the contractor pay taxes quarterly, or just wait until the end of the year? Is this how people fall into debt with the IRS? Thank you for you help.
In addition, the independent contracter makes about $12 an hour, and is paid every tuesday about $500.
GENARO