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Re: W2 to 1099

Subject: Re: W2 to 1099
From: Michele Davis <michele -at- krautgrrl -dot- com>
To: "TECHWR-L" <techwr-l -at- lists -dot- techwr-l -dot- com>
Date: Thu, 02 Dec 2004 11:06:41 -0600


Yes, I agree that you should consult a CPA, but you don't pay the 15% on what you spend on supplies, mileage, etc; at least I never did as a sole-proprietorship, but I cannot comment now as I own an S-Corp and have for several years, which, frankly, puts more money into the hands of the shareholders than to the IRS.

--
Michele
612-824-3516
612-309-6903 (cell)
www.krautgrrl.com
www.krautboy.com
and the uber empyre



Sherry Michaels wrote:

The 15% self-employment tax does not permit write offs. The IRS takes their
15% regardless.
I've seen many new 1099 people stunned and amazed at their tax bill at the
end of the year. Best advice I can give: consult a tax professional.




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References:
W2 to 1099: From: Sherry Michaels

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