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  #1  
Old 11-12-2010, 04:43 PM
Anonymous
 
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Default % of taxes taken out monthly when 1099?

Can anyone tell me what is the typical % of taxes taken out when you are a 1099 employee. Is 33% accurate? I know you can write a lot off so would it be lower?
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  #2  
Old 11-12-2010, 04:49 PM
Anonymous
 
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Default Re: % of taxes taken out monthly when 1099?

I really hope they don't hire you for your sake and theirs. You don't have enough sense to read up on being a 1099 rep before this.
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  #3  
Old 11-13-2010, 04:15 PM
Anonymous
 
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Default Re: % of taxes taken out monthly when 1099?

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Originally Posted by Anonymous View Post
Can anyone tell me what is the typical % of taxes taken out when you are a 1099 employee. Is 33% accurate? I know you can write a lot off so would it be lower?
You really are a freaking dumbass!!
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  #4  
Old 11-13-2010, 08:30 PM
Anonymous
 
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Default Re: % of taxes taken out monthly when 1099?

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Originally Posted by Anonymous View Post
I really hope they don't hire you for your sake and theirs. You don't have enough sense to read up on being a 1099 rep before this.
i think you're more of a dipshit for basically applying that because I asked a question about taxes I can't do the job and also assuming that I didnt do research on being a 1099 employee. I read a lot on being 1099 but I figured I would get some insight from a current wright 1099 employee.. thanks for the response u dick.
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  #5  
Old 11-14-2010, 09:32 AM
Anonymous
 
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Default Re: % of taxes taken out monthly when 1099?

If your reading on 1099 is the same as how you will read on product you and whoever hires you are in trouble. Your question was phrased in a manner that shows zero understanding of the 1099 concept.
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  #6  
Old 11-15-2010, 08:40 PM
Anonymous
 
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Default Re: % of taxes taken out monthly when 1099?

where are you "implying" for a job?
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  #7  
Old 11-17-2010, 10:21 AM
Anonymous
 
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Default Re: % of taxes taken out monthly when 1099?

Quote:
Originally Posted by Anonymous View Post
i think you're more of a dipshit for basically applying that because I asked a question about taxes I can't do the job and also assuming that I didnt do research on being a 1099 employee. I read a lot on being 1099 but I figured I would get some insight from a current wright 1099 employee.. thanks for the response u dick.

A independent rep works for himself and doesn't have taxes taken out of his paycheck. Hence, he is issued a 1099 rather than a W-2. Go pay an accountant $50 to explain it to you.

Also, I hope you're in my territory.
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  #8  
Old 11-17-2010, 07:08 PM
Anonymous
 
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Default Re: % of taxes taken out monthly when 1099?

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Originally Posted by Anonymous View Post
A independent rep works for himself and doesn't have taxes taken out of his paycheck. Hence, he is issued a 1099 rather than a W-2. Go pay an accountant $50 to explain it to you.

Also, I hope you're in my territory.
No shit. What I wanted to know is how much do you have to put aside for taxes per month to pay quarterly / yearly? I understand that 1099 is an independent employee, "hence" the 1099 tax form, no benefits, no 401k, no gas reimbursement, etc. I figured people would assume that I understand taxes aren't automatically deducted out of your pay check when 1099. Also, I have spoken with an accountant and he said 30-35% of your net, not gross, put aside for federal taxes. But because there are so many write offs he estimated around 10-15% gross. I wanted to see if that was accurate and I didn't think I had to write this much detail to get an answer.
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  #9  
Old 12-01-2010, 05:24 PM
Anonymous
 
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Default Re: % of taxes taken out monthly when 1099?

Quote:
Originally Posted by Anonymous View Post
No shit. What I wanted to know is how much do you have to put aside for taxes per month to pay quarterly / yearly? I understand that 1099 is an independent employee, "hence" the 1099 tax form, no benefits, no 401k, no gas reimbursement, etc. I figured people would assume that I understand taxes aren't automatically deducted out of your pay check when 1099. Also, I have spoken with an accountant and he said 30-35% of your net, not gross, put aside for federal taxes. But because there are so many write offs he estimated around 10-15% gross. I wanted to see if that was accurate and I didn't think I had to write this much detail to get an answer.
10% of gross is about right. Make sure that you incorporate as a sub chapter S and you will be given more opportunities to protect yourself and any income.
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  #10  
Old 12-09-2010, 07:48 AM
Anonymous
 
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Default Re: % of taxes taken out monthly when 1099?

I was a 1099 rep for 6 yrs. I held back 25-30% of gross. Remember that your quarterly's will not have to start until the following year, and it will be based on the prior year. I always felt that was a comfortable amt for me. That way if you make more than you anticipated, you will have a cushion for your tax bill. Anything left over, you can throw in your SEP-IRA. Always file an extension!
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  #11  
Old 05-05-2012, 04:02 PM
Anonymous
 
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Default Re: % of taxes taken out monthly when 1099?

Wow, this is really pathetic to really bash this person for this question...Really? You must have a real LOW self esteem to have to treat someone like this. I personally had the same question so I can pay into taxes on a monthly basis. You address me in that manner, I will chew you up and spit you out.........go get counseling!
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  #12  
Old 05-06-2012, 12:08 AM
Anonymous
 
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Default Re: % of taxes taken out monthly when 1099?

Quote:
Originally Posted by Anonymous View Post
Wow, this is really pathetic to really bash this person for this question...Really? You must have a real LOW self esteem to have to treat someone like this. I personally had the same question so I can pay into taxes on a monthly basis. You address me in that manner, I will chew you up and spit you out.........go get counseling!
I agree with you but that post was from 2010. Doubt they will see your comment.
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