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    progress Posts: 2, Reputation: 1
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    #1

    Jul 29, 2006, 06:39 PM
    Taxes
    I have taken on a second job as in independent contractor, and are required to pay my own taxes from my weekly pay which is $350.00. How do I determine the amount to be deducted
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Jul 29, 2006, 07:44 PM
    Your self-employment tax will be 15.3%.

    Your income tax will depend on your total income. A good assumption is that you are in the 15% tax bracket.

    So put aside one-third of each weeks paycheck for taxes.
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