W2 and 1099

["Sherry Michaels" <sherry -dot- michaels -at- docntrain -dot- com>]

Michelle says; <<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.>>

Agreed, up to a point. Using proper accounting methods, some expenses come
off the bottom line. Usually informal 1099 folks do not go to a formal
accounting method, however, and many do not incorporate or even bother with
an EIN number.

I've owned a limited liability company in Arizona for over six years. I am
now evaluating going to an S-Corp for exactly the reason you mention. Both
our situations are different from an individual thinking about 1099 work.
Any way, a tax professional can assist Tony the most right now.

Sherry
Sherry Michaels
Michaels & Associates, LLC
11639 E. Wethersfield Rd.
Scottsdale, AZ 85259
480-614-8440 Local
877-614-8440 Toll free
480-614-2775 FAX
www.docntrain.com



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