Showing posts with label W2. Show all posts
Showing posts with label W2. Show all posts

9.01.2013

If you are Self-employed are you withholding your taxes?

So you are self-employed, and, your income is not being reported to the IRS on a W2 but on a 1099-MISC form, which means that neither federal income tax or self-employment taxes are being withheld from your checks, and it also means that you are responsible for getting those funds over to the IRS on a regular basis, quarterly in fact.  Basically, you are required to pay
"No matter who you are, making informed decisions about what you do with your money, will help build a more stable financial future for you and your family." Alan Greenspan

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