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I am being considered for a long term contract as a 1099-MISC independent
contractor. I.e., non-W2. I've been out of independent contracting for
over 20 years, so I'm a little rusty on the ins and outs. (Note that I
have recent experience as a W2 contractor with no benes, so I'm familiar
with the contracting side of the business.)
Right off the bat, I know the IRS wants to hit me with the self-employment
tax, the normal 7.65% FICA rate doubled to 15.3% for self-employed.
This position is 2 hours from my permanent residence, so I will incur
additional housing costs. As an independent, I understand that I can
deduct certain items from my self-employment income. Does anyone have a
good resource that helps self-employed contractors identify tax deductions?
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