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Jul 10, 2019
4:00
:06
pm
Supercoug
[censored]
By about 7.5%. If there is enough income, she should consider forming an entity and electing S corp status. Might
mitigate the increased tax burden, and possibly come out ahead.
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Supercoug
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Supercoug
Joined
Sep 7, 2005
Last login
May 4, 2024
Total posts
55,661 (27,836 FO)
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Messages
Author
Time
Questions for Independent contractors...
JOPE
Amazing human, skilled lover
7/10/19 3:51pm
She might not have anything to play for come November. No true rivalries. MWC...
TPcoug
7/10/19 3:54pm
Talk to a CPA because taxes are played on a different field with 1099 ICs
reagan21
7/10/19 3:56pm
Her tax burden is going to grow significantly, so take that into consideration.
vegasnative
7/10/19 3:57pm
By about 7.5%. If there is enough income, she should consider forming an entity and electing S corp status. Might
Supercoug
7/10/19 4:00pm
She'll have to pay self employment tax which is twice the Fed 7.6 or whatever it
relic
7/10/19 4:20pm
right, so only the additional ~7+.
Supercoug
7/10/19 4:26pm
I was only under the impression that S corp was only good if your take was
AggieWeekendCougar
7/10/19 5:17pm
You're right. I'm just saying that overall impact may be reversed when working one against the other.
Supercoug
7/10/19 5:20pm
Plan ahead on taxes with a tax consultant that knows what they are doing.
Lance71
7/10/19 5:03pm
Right ... however as a self employed person with a good tax
relic
7/10/19 4:33pm
Rates for independent contractors sound good, but understand the true cost
webster242
7/10/19 5:55pm
Not sure what she is doing or who she would be doing it for but
CougaRR4L
7/10/19 11:23pm
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