[slightly OT] Advice on becoming an independent contractor

[Peter Buechler]

I've been working as an independent contractor part-time in addition to a 
full-time job. The Feds really want to get their hands on your money. Make 
sure you get 1040-ES and start shoveling money their way. Don't forget that 
you need to pay the employer's part of social security as well as your own. 
Maybe an accountant would be worth it, but I've been trying to make do 
without one.

On Friday 22 March 2002 14:01, you wrote:
> This is off-topic to Linux.. but since there are so many consultants and
> independent contractors on this list, I thought I'd ask anyway.
>
> I am about to enter into an agreement to work for a company as an
> independent contractor.  I will then have to take care of such things as
> self-employment tax, contributions to my IRA, and everything else.
>
> While I know in general that I have to do those things, I'm not really
> clear on the specifics.  I imagine there must be some good advice sites
> online that can tell me what I'm in for and give hints and tips for doing
> things. For instance, how do I make a contribution to my IRA so that it's
> not taxed?  Exactly which taxes do I need to pay? Is there something
> non-obvious that I need to know?
>
> Any help or links will be appreciated!