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Yama Kamyar | 1 Aug 2005 09:29

RE: Q2 Payroll Taxes

Hi,
 
I am also one of those guys caught up into the system of doing 1099 in California. I just began performing 1099 services since 01.2005 for the first time instead of contracting W2. The problem is that I am kind of unfamiliar with the corp (Fed. Tax ID) versus self-employed (SSN ID). I haven't spoken to an tax consultant yet but I am going to do so this month.
 
What is the difference between an individual performing independent consultation and an individual owning their own corporation and Doing Business As is (DBA) in terms of tax deductions? All of these questions will for sure resurface when I speak with the Tax adviser I will consult with. My biggest questions, really, are what are the secrets recruiters use to get all these contracts? Having a middle-man, a recruiter, get you a job means you get underpaid as a freelancer or a contractor but then again you are stuck with them because most companies does not post an ad on your local newspapers or other online job search  looking for you... There must be a secret place where recruiters find these offerings from. You see when you see an agency post a job description for a position there are 10 other recruiting agencies posting the exact same job description, raising the eye browse: they must be coming from the same company.
 
My idea of going independent, at first glance, was to make more money than if I were to go permanent.... I mean what else can be attractive about going independent and let's cut the "bs" like because of the flexibility or because you got more projects.
 
I'd love to hear from you guys. Thanks,
 
~yamazed

From: going_independent <at> yahoogroups.com [mailto:going_independent <at> yahoogroups.com] On Behalf Of rajeev gopalakrishnan
Sent: Sunday, July 31, 2005 8:18 PM
To: going_independent <at> yahoogroups.com
Subject: Re: [going_independent] Q2 Payroll Taxes

Hi Guys,
 
My name is Rajeev Gopal and my employer has offered me a not so bad rate for going 1099 with them. Initially I was very excited to get going on my own, but now I am little bit scared. Should I or should I not is a question.
 
Could any one of you would let me know what all taxes (and if possible how much percentage of them) should I pay? I have no plans to set up a LLC or S-Corp as of now. I am in state of PA.
 
Thanks,
Rajeev

 
On 7/29/05, sean_chase_mcp <sean <at> unboxedsolutions.com> wrote:
<rant>

Gosh, I sure do love writing a check out the state of AZ every quarter
(*rolls eyes*). Better yet, paying unemployment to the DES for myself!
Don't you guys wish eveveryone had to write a check to the IRS, State,
and DES like we do? Can you imagine the revolt? :-)

Well, since I went through the trouble of paying unemployment
tax...I'm going to "go lay myself off" for the weekend. Haha.

Sean

</rant>




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