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Working as an Independent Contractor?
Posted on 9/22/14 at 5:36 am
Posted on 9/22/14 at 5:36 am
I am going through severe burnout at my corporate job.
I have a company who wants to hire me as an independent contractor for higher pay and less hours in a cube. (wife has good benefits)
QUESTIONS:
- Can the new co. withhold taxes etc for me?
- Or will they pay me on a 1099 and I have to do the tax work?
- Are there any other fees/taxes an independent contractor I should be aware of, or put $ away for?
Thanks Guys!
I have a company who wants to hire me as an independent contractor for higher pay and less hours in a cube. (wife has good benefits)
QUESTIONS:
- Can the new co. withhold taxes etc for me?
- Or will they pay me on a 1099 and I have to do the tax work?
- Are there any other fees/taxes an independent contractor I should be aware of, or put $ away for?
Thanks Guys!
2
Posted on 9/22/14 at 7:25 am to Guido Merkens
If you are an independent contractor, they will cut you a check and it your responsibility to take care of taxes, etc
Posted on 9/22/14 at 7:43 am to Guido Merkens
1) No
2) Yes
3) You are now responsible for both sides of social security taxes
2) Yes
3) You are now responsible for both sides of social security taxes
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