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Home > Business & Careers > Payroll   »   Determining Taxes for Independent Contractors

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Old Jun 19, 2008, 11:06 AM
losmriveras5
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Determining Taxes for Independent Contractors
I am a new contractor and need to know how I go about determining the amount of taxes I will be paying.

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Old Jun 19, 2008, 12:01 PM   #2  
Fr_Chuck
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Well for start you will have to pay your self employment taxes ( basicly your social security) f, then you have your standard state and federal taxes. So a good guideline is to put back 35 to 40 percent of your money for taxes.
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