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Posted on 2/17/14 at 3:30 pm to Vols&Shaft83
Your pain. I feel it.
I make about 1/3 of my annual income from contract work so I file a 1099-G for it, and I got hit kinda hard this year. I will have paid $31,000 to state and federal when I send them "their money" in April.
I make about 1/3 of my annual income from contract work so I file a 1099-G for it, and I got hit kinda hard this year. I will have paid $31,000 to state and federal when I send them "their money" in April.
Posted on 2/17/14 at 3:31 pm to UMTigerRebel
My neighbor pulled his out yesterday and made 2+ wooded acres look like a golf course in around 2 hrs.. All I needed to see ha.
The wife is lobbying for a new dining room set as we speak.
The wife is lobbying for a new dining room set as we speak.
Posted on 2/17/14 at 3:33 pm to wmr
quote:
I will have paid $31,000 to state and federal when I send them "their money" in April.
Yep, if you're 1099, you get kicked in the fricking balls. I'm going Sub S next year, frick this self employment tax shite.
Posted on 2/17/14 at 3:33 pm to CatFan81
quote:
Shocker there.
Walmart is simply wonderful. I want it all, I want it now, and I want to ride a razor scooter through the store to get it.
Posted on 2/17/14 at 3:34 pm to Vols&Shaft83
I will be 1099 in two months.
Posted on 2/17/14 at 3:36 pm to reggierayreb
quote:
Germantown
I think Houston High School is supposed to be a good school.
Posted on 2/17/14 at 3:36 pm to CheeseburgerEddie
quote:
I will be 1099 in two months.
Posted on 2/17/14 at 3:38 pm to Vols&Shaft83
I know, but I should be getting 4x the pay
Posted on 2/17/14 at 3:40 pm to CheeseburgerEddie
quote:
I know, but I should be getting 4x the pay
Oh, well then, not quite as bad.
Posted on 2/17/14 at 3:44 pm to wmr
quote:
I will have paid $31,000 to state and federal
Posted on 2/17/14 at 3:46 pm to Vols&Shaft83
They definitely didn't mention the whole will now be put on 1099 thing until I had all but agreed to the switch though.
Posted on 2/17/14 at 3:46 pm to WG_Dawg
Precisely why making over 100k/yr isn't all some people think it is. They really start fricking you past 75k gross or so. Plus I have pretty much zero write offs. I run car, insurance, phone and health insurance through the company though.
Posted on 2/17/14 at 3:47 pm to Vols&Shaft83
quote:
Have already paid:
The Fed: $14,640
Virginia: $2,680
Probably still gonna owe $3,000-5,000
NOVA is still one of the greatest states in the country.
Posted on 2/17/14 at 3:52 pm to Vols&Shaft83
quote:
Yep, if you're 1099, you get kicked in the fricking balls. I'm going Sub S next year, frick this self employment tax shite.
You'll still have to pay self-employment taxes as a sub s. For most folks it's spread out over the year through the salary they pay themselves.
Posted on 2/17/14 at 3:57 pm to CheeseburgerEddie
quote:
I will be 1099 in two months.
Pay your taxes quarterly.
Posted on 2/17/14 at 4:01 pm to CatFan81
Why do I get the impression that this thread is veering towards who has OT Baller status via amount of taxes paid?
Posted on 2/17/14 at 4:02 pm to The Spleen
quote:
You'll still have to pay self-employment taxes as a sub s. For most folks it's spread out over the year through the salary they pay themselves.
Yes I understand that, I'll also be paying myself a lower salary, and taking the other income in distributions.
Posted on 2/17/14 at 4:03 pm to CatFan81
quote:
NOVA is still one of the greatest states in the country.
They can eat a dick with aids on the tip
Posted on 2/17/14 at 4:05 pm to Vols&Shaft83
They will be cool with me writing off a car purchase, internet, insurance, cell phone, all manner of "business meals" and anything else I can think of won't they?
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