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re: 1099 Work Questions

Posted on 6/19/17 at 9:59 am to
Posted by Carson123987
Middle Court at the Rec
Member since Jul 2011
66880 posts
Posted on 6/19/17 at 9:59 am to
Put 40% of your checks in a savings account and don't touch it
Keep a detailed mileage log
Every time you go out to eat or do something fun, save the receipt for Meals/Entertainment
Take the sqft of the biggest room in your house and use that square footage as your "home office"
Write off your internet and phone

Basically write off everything you do I did the above and saved 40%, and I ended up oversaving by a good bit
Posted by ThatMakesSense
Fort Lauderdale
Member since Aug 2015
14992 posts
Posted on 6/19/17 at 10:02 am to
quote:

Put 40% of your checks in a savings account and don't touch it


Heard this from others as well. Basically is what I will pay when I report to IRS?

Concerning the vehicle, would I be better off purchasing, maybe possibly, leasing a newer vehicle in order to write-off depreciation value??..current vehicle is paid for so I'm not sure the depreciation would be relevant or worthwhile.
This post was edited on 6/19/17 at 10:02 am
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