%38 有什么根据？ 这是我网上搜到的。。，
I am self employed and will get a 1099 at the end of the year. How do I know
what my taxes are going to be. I would like to prepare now for what I will
need then
ANSWER: Sherri,
As a self employed individual, you will report your 1099 income and business
expenses on Schedule C. The net income from Schedule C is reported on your
tax return. You will pay income tax on this amount, plus self-employment tax.
Self-employment tax is the amount you will be paying for Social Security and
Medicare tax. As a W-2 employee, you paid 6.2% to Social Security and 1.45%
to Medicare. Your employer matched these amounts. As a self employed person
, you are considered both the employee and employer.
This means you will pay 12.4% (6.2% x 2) of your net Schedule C income for
Social Security tax and 2.9% (1.45% x 2) for Medicare tax. These taxes will
be computed on Schedule SE. All of this in addition to paying federal and
state income tax.
The best way to control these taxes is to pay close attention to your
business expenses. Do not miss a thing here. The goal is to reduce your net
Schedule C income as much as possible.
You should also look into setting up some kind of retirement plan.
Contributions into these retirement plans can get you additional income tax
deductions. These plans come in all types and sizes for self employed
individuals. Fidelity Investments has good information regarding these plans
on their website.
To figure out what your tax are going to be, that will require a little
homework. You will need to make some kind of reasonable estimate for your
Schedule C income and prepare a projected tax return using the 2007 tax
rates.
Unfortunately, this is no set in stone percentage I could give you. There
are too many variables. Simply you might consider this equation...your
Schedule C income times your federal tax rate, your state tax rate, plus 15.
3% for self employment tax.
Regards,
