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Re: How does contracting as 1009 work???

Get a receipt for everything. You can deduct mileage, except commuting miles, and gas oil maintenance etc. This is of course if you are using your own truck. Food is another dig deduction. Tools, cell, and any thing else you can come up with. Being a 1099 worker means that you now pay all the taxes. this means that your employer should be paying you a higher rate as this is a huge advantage for him. About 25% should be held aside to pay your taxes. Your self-emplyment tax will cover your social sec. If you can come up enough deductions you should out with some $ left over. Good Luck.
Better to do an inch right then do a mile and do it twice.
This is CABL.com posting #249531. Tiny Link: cabl.co/mbc4R
Posted in reply to: Re: How does contracting as 1009 work??? by Jacob Seymour
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