Information Discussion for Gate Guards
Thought I'd start a new topic for Gate Guards to use for comments. Like the moderator suggested-keep technical stuff, recipes, mechanical, etc. where they belong. Lets hear from everyone sucking down ...
Forum Discussion
maxx233 wrote:
Here's a question for you guys that have been doing this for several years... Taxes - how are they dealt with as a gate guarding couple, presumably working as an independent contractor under 1099 conditions?
--Does only one of you (the one the check is made out to) file the 1099?
--As I understand it there are quarterly estimated tax payments due the IRS - for those of us who've only ever used turbotax or a CPA once a year, how are those payments made and 'estimated'?
--Have you been caught off guard by self employment tax or anything else? Any advice for things to look out for or what to expect for actual liability at the end of the year?
Andy's forum has an excellent tax thread going about this www,myoldrvforum.com. Any number of web sites will instruct you on how to pay taxes quarterly. You can even do it electronically. It's up to you to decide how much to prepay. My fiance calculates it by making up a faux return and "guesstimates" what we'll need to prepay to avoid owing Uncle Sam. It's easier than it looks. As I recommended, start at myoldrvforum and always get answers from a pro.
