TheRevanchist Posted June 25, 2013 Report Share Posted June 25, 2013 Independent contractors have to pay quarterly, or they could face penalties. And, they have license fees and such for county and city. Running a small business costs a lot of money. Quote Link to comment Share on other sites More sharing options...
Faiblesse Des Sens Posted June 25, 2013 Report Share Posted June 25, 2013 Independent contractors have to pay quarterly, or they could face penalties. And, they have license fees and such for county and city. Running a small business costs a lot of money. Well I'm not running a business here. But yeah, the quarterly fee is what has been mentioned to me, but I'm unsure of the specifics of it. All I know is that going from being employed by a company to being independently contracted is more expensive and by (soon to be) old boss was nice enough to throw together a comparison spreadsheet so I know what my contract would have to be to make more or the same amount of money with higher taxes. I'll have more details later this week. Quote Link to comment Share on other sites More sharing options...
Mr. GOH! Posted June 25, 2013 Report Share Posted June 25, 2013 Ugh, 1099s. Don't be a 1099 independent contractor unless it pays 40% more than what you'd get as an employee. Quote Link to comment Share on other sites More sharing options...
Faiblesse Des Sens Posted June 25, 2013 Report Share Posted June 25, 2013 Yep, I was warned about that already and the calculations show I should be ahead. Quote Link to comment Share on other sites More sharing options...
Mr. GOH! Posted June 25, 2013 Report Share Posted June 25, 2013 You budget for health insurance, too, FBD? Quote Link to comment Share on other sites More sharing options...
Faiblesse Des Sens Posted June 25, 2013 Report Share Posted June 25, 2013 I've never had health insurance since I turned 18. Quote Link to comment Share on other sites More sharing options...
Mr. GOH! Posted June 26, 2013 Report Share Posted June 26, 2013 (edited) Irresponsible, FDB. Regardless, you're gonna hafta get coverage after January 1st, 2014, or pay a hefty tax penalty. Edited June 29, 2013 by Mr. GOH! Quote Link to comment Share on other sites More sharing options...
Eleven Posted June 26, 2013 Report Share Posted June 26, 2013 What is an FBD??? Quote Link to comment Share on other sites More sharing options...
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