If you’ve been an independent contractor for a while, you’ve probably been through this before. You are paid a check for your contract work and no taxes are withheld. You are responsible for all taxes and reporting. Maybe you weren’t properly advised or organized and you operated as a sole proprietor. This made sense because it was easy.
Unfortunately, when you filed your tax return in April, you owed a whopping $10,000 (or more) that you weren’t expecting! How could this possibly happen?
Independent contractors (IC for short) that operate as sole proprietors are taxed on both halves of self-employment taxes and this isn’t required to be paid throughout the year. As a result, most ICs don’t realize the problem until they file their taxes.
If this has ever happened to you or someone you know, realize that this is entirely avoidable. At extremely competitive prices, IC Tax Advisors can guide you to ensure this never happens again. Our solutions are specifically tailored to ICs and for your particular industry. Make sure that the “independent contractor year-end blues will no longer apply to you. We’ll save you money, it’s that simple.
CLICK HERE FOR A FREE TAX CONSULTATION
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