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Is anyone a Consultant/Freelancer?
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randella
Love my little man
Member since 8/05 16290 total posts
Name:
Randi
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Is anyone a Consultant/Freelancer?
How much of your earnings do you set aside for taxes? Percentage-wise of course.
Based on my regular staff paychecks, I would assume it's about 30%, but my dad said I should hold about 50%-- which seems a bit excessive to me.
Anyone have experience with this?
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Posted 3/29/08 11:23 AM  |
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Long Island's Largest Bridal Resource |
mommy2bella
Where does time go?
Member since 12/05 9747 total posts
Name:
Kelly
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Re: Is anyone a Consultant/Freelancer?
my accountant told me that I should hold at least 40% because if you don't incorporate yourself and make a certain amount, you have to pay these crazy taxes on top of regular taxes...
I would consult an accountant asap...
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| Posted 3/29/08 12:40 PM |
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randella
Love my little man
Member since 8/05 16290 total posts
Name:
Randi
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Re: Is anyone a Consultant/Freelancer?
Thanks-- I am waiting on word back from my accountant. I think I will most likely incorporate myself for tax purposes. I am just trying to do some math at this point.
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| Posted 3/29/08 1:26 PM |
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