> -----Original Message----- > From: Cameron Childress [mailto:[EMAIL PROTECTED] > Sent: Monday, June 11, 2007 5:29 PM > To: CF-Community > Subject: Re: 1099 > > I'd speak with a CPA - depending on how long you work on a 1099 basis > you may have to submit taxes quarterly. If you can afford it, I would > save half in the highest interest account you can find (Etrade has one > at 5% IIRC). You will not need all 50%, but you'll have a nice little > saving at the end of the year that you can submit to an IRA.
I agree - save at least a third to pay the taxes if at all possible and treat anything extra as a much deserved bonus. Remember too that declarable business expenses reduce your tax burden so remember to save those receipts! Jim Davis ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Create robust enterprise, web RIAs. Upgrade & integrate Adobe Coldfusion MX7 with Flex 2 http://www.adobe.com/products/coldfusion/flex2/?sdid=RVJP Archive: http://www.houseoffusion.com/groups/CF-Community/message.cfm/messageid:236343 Subscription: http://www.houseoffusion.com/groups/CF-Community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
