Thread: Gotta new job !
View Single Post
      09-24-2021, 07:11 PM   #2
2000cs
Captain
2476
Rep
987
Posts

Drives: Potato
Join Date: Feb 2012
Location: USA

iTrader: (1)

Go to IRS.gov and read up on independent contractors. You are on the hook for full social security taxes (you and your former employer may have already paid enough this year, but not next year), and all income taxes. Probably have to file quarterly (1040ES) and maybe in your state as well. There is a lot to this topic and I’m only up on some of it; for example I’m not wise on whether it makes sense to incorporate and why.

One rule of independent contracting is to actually be independent, which means using your own equipment and setting your own hours, etc. You have an easier time arguing that you are independent if you have more than one client. Again see the IRS.gov web site for their guidance.
Appreciate 2
sygazelle5842.50
nazali388.00