One thing to remember when your straight 1099 is if you pay yourself only $1000 a month you only pay payroll tax's on that amount but when you retire your social security pay will be figured on that amount. My buddy was self employed and bragged how much money he made ''under the table'' when he retired he bitched he only gets $1240 a month . To many people think only about to day so just wanted to throw this out there as some food for thought and don't assume you will make it up from your banked profits because you never know what the future hold . Hope for the best but plan for the worst . Good luck , work hard and do your best you will not lose !