Look, 1099 vs. W2 is simply a distinction around how and by whom taxes get
withheld from our income. With W2 payroll, taxes are taken right off the top;
with 1099s, they’re settled later. If you don’t like keeping organized notes,
then 1099’s are closer to having a time-bomb watiing to explode l
Good conversation. I was an LLC and paid the IRS as an S-Corp. Because
the filings where too much for me I used a payroll company. Not sure I
really saved much because it cost so much for the payroll company and
for the CPA.
After reading what David and Steve had to say I think I may neve
A. I have nothing for sale to folks here, as I’m semi-retired now. This is all
water under the bridge to me.
B. I went down the route of working as a sole proprietor for over 10 years. I
nearly lost my house twice and got hosed-up in a lawsuit where I “won the
battle but lost the war” mainly b
On Sat, 2022-08-20 at 00:07 +, David Schwartz via PLUG-discuss wrote:
> All of that noise
Not noise.
> really only applies to someone who’s a glutton for punishment.
https://en.wikipedia.org/wiki/Ad_hominem
> If you value your time, energy, and sanity, here’s what you want to do.
A litt
All of that noise really only applies to someone who’s a glutton for
punishment. If you value your time, energy, and sanity, here’s what you want to
do.
NOTE: These are general guidelines that have been around for decades. But
verify your choices with a lawyer and/or CPA before finalizing anyt
On Wed, 2019-05-29 at 06:43 -0700, Andrew McRobb wrote:
> Yes, you still have to report your earnings and pay taxes and I would
> assume the feds would get idea how much you make on your employers
> bank account statment. I wouldn't mess around not paying taxes, it could
> very much royally bite yo
On Wed, 29 May 2019 07:26:37 -0700
techli...@phpcoderusa.com wrote:
> If you are working as a freelancer / contractor you should get a 1099
> each year. I think the government becomes aware when they get the
> 1099 the year after your earnings.
That's correct.
I've been getting 1099s since 1
I echo what Keith said.
The question of “when” you earned the income is really only a matter of “what
tax year” it was earned.
At the end of the year, you basically add up all of your income and expenses
FOR THAT YEAR and prepare your taxes accordingly.
If you get a 1099, that means it’s sen
Thanks for the tip! I really appreciate it.
On Wed, May 29, 2019 at 10:26 AM wrote:
> If you are working as a freelancer / contractor you should get a 1099 each
> year. I think the government becomes aware when they get the 1099 the year
> after your earnings.
>
> Several gotchas
>
> 1) you wil
If you are working as a freelancer / contractor you should get a 1099
each year. I think the government becomes aware when they get the 1099
the year after your earnings.
Several gotchas
1) you will pay 15.3% for social security / medicare because you are the
employer and the employee.
2
thanks
On Wed, May 29, 2019 at 9:54 AM Andrew McRobb
wrote:
> Got it. That I'm not sure about since that's kind of a grey area in my
> book. Idk if someone on here can chime in on that, or maybe a question for
> a accountant somewhere. Just dont want to give you false information.
>
> On Wed, M
Got it. That I'm not sure about since that's kind of a grey area in my
book. Idk if someone on here can chime in on that, or maybe a question for
a accountant somewhere. Just dont want to give you false information.
On Wed, May 29, 2019, 6:50 AM Michael wrote:
> oh I was going to pay my taxes I
oh I was going to pay my taxes I was just hoping I could say I earned it in
July rather than june.
On Wed, May 29, 2019 at 9:45 AM Andrew McRobb
wrote:
> Also before I forget. Good thing about 1099 is you can deduct a lot of
> things to not pay so much. E.g: Gas to get to work, supplies, etc...
Also before I forget. Good thing about 1099 is you can deduct a lot of
things to not pay so much. E.g: Gas to get to work, supplies, etc...
On Wed, May 29, 2019, 6:43 AM Andrew McRobb wrote:
> Yes, you still have to report your earnings and pay taxes and I would
> assume the feds would get idea
Yes, you still have to report your earnings and pay taxes and I would
assume the feds would get idea how much you make on your employers
bank account statment. I wouldn't mess around not paying taxes, it could
very much royally bite you in the butt by the IRS down the road.
I suggest asking around
I might get a 1099 job. How does the company report my earnings to the
government? Is it reported yearly or monthly or is it something I have to
do? Meaning the feds have no idea when you made it just that you made
it. when do they know it though?
--
:-)~MIKE~(-:
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