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    SuccessFreek's Avatar
    SuccessFreek Posts: 1, Reputation: 1
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    #1

    Dec 17, 2008, 06:06 PM
    Is there a way to pay 1099 taxes like a normal paycheck?
    Is there a business out there like Paychex or ADP that has a service for someone like me on a 1099 who would like to have their paychecks' taxes paid bi-weekly?

    My boss doesn't want to utilize those services for me and I would much rather have my paychecks automated with the proper percentages being sent the proper places. It would also be nice to have percentages automatically taken out for health insurance and retirment and sent to those places as well for me.

    I'm probably wishing, but I'm a very busy professional and the less time I can spend on my finances the better. For 2009, I will make somewhere between 85k & 105k. If for some reason I can't get this service I'll just make quarterly payments, but I would like to know if 30% would be enough. Do I need to add the 15.75% self employment tax on top of the 30% in my tax bracket? Does the 30% include state taxes as well or should I hold out more? I'm thoroughly confused on that.

    I will be keeping my taxes I withhold in a separate checking account and plan to pay quarterly.

    The wifey makes around 32k and we have no children and she claims "married, 0".

    Any thoughts or advice will be extremely appreciated.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Dec 18, 2008, 10:21 AM
    Sorry, but quarterly estimated payments are really your only option.

    The primary reason employers go with "independent" contractors is to avoid the hassles of doing a payroll and paying the various employment taxes.
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