Re: Employee vs. SubContractor

If you're going to get a 1099 then you've got to pay
your own taxes.  I pay under $300 a year for a cpa to
set me up & and prepare my 1040 & state/local forms.

Watch out: 20% - 30% is a lot if you have to pay it all
at once, and you don't have it set aside.

phil
>
> I have got some pay from a second source that I have not yet paid taxes on &
> my first job says that they can increase my payroll deductions to compensate.
>  I like the idea about not having to do any more paperwork to satisfy
> government requirements.  I not sure yet whether I like the idea of my first
> employer knowing how much I making from secondary.  I might be more
> comfortable sending check to IRS for say 10% of each check from secondary, as
> it comes, but IRS probably wants quarterly installments.  I probably don't
> have much time to figure out how to deal with that for first quarter of this
> year.
>