As an independent contractor I am, from what little I know, essentially a sole proprietor and that means paying estimated quarterly taxes to the IRS. If I skip out on this I get charged interest and fees for every quarter I miss. Prior to the last quarter of 2008 I didn't make any immediately significant income so I didn't bother looking into the laws and such. Now that I'm a pseudo-employee, however, constantly working on a particular project in an office ... well, I have more to work with and thus more to tax. I am considering just visiting a tax professional, but I'll try to hack it on my own before that. Just like my big brother!
Sunday, January 04, 2009
Tax Headaches Begin
As an independent contractor I am, from what little I know, essentially a sole proprietor and that means paying estimated quarterly taxes to the IRS. If I skip out on this I get charged interest and fees for every quarter I miss. Prior to the last quarter of 2008 I didn't make any immediately significant income so I didn't bother looking into the laws and such. Now that I'm a pseudo-employee, however, constantly working on a particular project in an office ... well, I have more to work with and thus more to tax. I am considering just visiting a tax professional, but I'll try to hack it on my own before that. Just like my big brother!
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment