How does this work?
I've never had a job that doesn't withhold taxes so how many hours per week is safe to take without having to pay out the wazoo at the end of the year??
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samueltyler2 · 80-89, M
Are you being paid as an independent contractor? If so you will end up getting 1099 from them. I don't think they will deduct for you. You may need to file quarterly estimated taxes. It is best to consult an accountant for advice. Just realized, then you also have to remember to send money for social security and Medicare.
Tumbleweed · F
@samueltyler2 Yes, a contractor & thank you for the info!
samueltyler2 · 80-89, M
@Tumbleweed In my early years i got hit hard with taxes and penalties, then i realized the consultation income was going to be seen and then taxed.