Hey are you a slow preneur consultant maybe an assign us well if you fit any of those categories and you have questions about your taxes you want to stick around everybody komari Ellis here also known as the finance rebel if you're new to this channel welcome we talk about all things wealth money business side hustles attacks his wealth anything that pertains to money and we even interview authors and some pretty famous we worked on the top alright so today we wanna do something different today I'm gonna call today tax Tuesday all right I got a question today from a friend of mine actually a friend of mine son who just started a new job as a contractor for an independent contractor now I don't really think he technically meets the criteria for being an independent contractor he's probably an employee but when I talk about that one in this video we'll talk about that in another video alright so he called me up in the ask me and says well I'm getting into 99 I had to pay my own taxes just like many of you sign us those entrepreneurs consultants many times you work places or do work for places you're a freelancer and you get it too many now and what that means is nobody's taking any taxes out you have to pay your own tax burden okay so one of the questions he asked was how much should I pay and so I know as a young kid it's not gonna do much much planning in terms of tax planning not wanna do to be too sophisticated looking right now because he's just getting going so basically had to say listen you had to pay the IRS you had to pay the...
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Irs levy on independent contractor income Form: What You Should Know
Your employer will withhold income tax that's due when you make self-employment income. Your employer may deduct income taxes you owe from your paychecks, withhold social security and Medicare and withhold unemployment taxes.
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