Complete Labor Law Poster for $24.95
from www.LaborLawCenter.com, includes
State, Federal, & OSHA posting requirements

Announcement

Collapse
No announcement yet.

Thinkin' of taking a 1099 job.. Can I get some advice? Alabama

Collapse
This topic is closed.
X
X
 
  • Filter
  • Time
  • Show
Clear All
new posts
    DAW
    Senior Member

  • DAW
    replied
    You might want to also make sure that IRS agrees with the classification of independant contractor.

    http://www.irs.gov/businesses/small/...=99921,00.html

    Leave a comment:

  • Pattymd
    Senior Member

  • Pattymd
    replied
    You need to speak with an experienced accountant. Don't forget also, that you won't have unemployment coverage and you'll have to pay both portions of FICA/Medicare (self-employment tax=15.3%).

    Leave a comment:

  • Tram
    Junior Member

  • Thinkin' of taking a 1099 job.. Can I get some advice? Alabama

    Hey guys-

    I am currently really tired of my current job and am looking at getting into something else..

    The position I am looking at is a 1099 Independent Contract job.. I wish it wasn't but.. it is..

    So..

    I'm trying to find out if it's worth my time to swap.. I am currently working a job where I make "pre-tax" around $24,000 a year..

    The job I am looking at is pre-tax $35,000 base pay and can go up from there based on performance..

    The biggest thing so far is the lose of insurance.. So I am going to have to pick that up.. I currently pay around $150/month for myself and my wife.. It will probably double from what I can tell..

    Am I reading correctly that 60% of the premiums are deductible?

    Also, I will be able to deduct my office.. Based on office size/house size = percent of deduction.. How much of my electricity, water, etc, etc, is deductible off this?

    I will be required by the job to get a home phone which I currently do not have.. How much of this is deductible?

    I am just trying to make sure that I don't come out behind on the job switch.. You'd think an extra base of $10,000 a year would be noticeable, but unfortunately I've never paid too much attention to tax details and now I guess I have to.

    Anyone have any other items I can deduct? The job will be 100% in my home, working on the phone.. Basically an account manager for a company, dealing directly with our dealers..

    Thanks guys..

    Jeff
The LaborLawTalk.com forum is intended for informational use only and should not be relied upon and is not a substitute for legal advice. The information contained on LaborLawTalk.com are opinions and suggestions of members and is not a representation of the opinions of LaborLawTalk.com. LaborLawTalk.com does not warrant or vouch for the accuracy, completeness or usefulness of any postings or the qualifications of any person responding. Please consult a legal expert or seek the services of an attorney in your area for more accuracy on your specific situation.
Working...
X