When I did this I always paid 35% of my collected pay to the IRS. That includes 17% for FICA/Medicare and 18% income tax. I didn't send anything to the state and paid them at the end of the year based upon my 1099.
It was overkill as I usually turned out 33% was sufficient, but my CPA suggested the higher amount to ensure I didn't get hit too badly on April 15. As for getting started IRS Publication 505 (http://www.irs.gov/publications/p505/index.html) was very helpful. >how do you do this? >where do you start? >thanks >-paul ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Upgrade to Adobe ColdFusion MX7 Experience Flex 2 & MX7 integration & create powerful cross-platform RIAs http://www.adobe.com/products/coldfusion/flex2/?sdid=RVJQ Archive: http://www.houseoffusion.com/groups/CF-Community/message.cfm/messageid:231810 Subscription: http://www.houseoffusion.com/groups/CF-Community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
