% of taxes taken out monthly when 1099?

Discussion in 'Wright Medical' started by Anonymous, Nov 12, 2010 at 4:43 PM.

  1. Anonymous

    Anonymous Guest

    Can anyone tell me what is the typical % of taxes taken out when you are a 1099 employee. Is 33% accurate? I know you can write a lot off so would it be lower?
     
  2. Anonymous

    Anonymous Guest

    I really hope they don't hire you for your sake and theirs. You don't have enough sense to read up on being a 1099 rep before this.
     
  3. Anonymous

    Anonymous Guest

    You really are a freaking dumbass!!
     
  4. Anonymous

    Anonymous Guest

    i think you're more of a dipshit for basically applying that because I asked a question about taxes I can't do the job and also assuming that I didnt do research on being a 1099 employee. I read a lot on being 1099 but I figured I would get some insight from a current wright 1099 employee.. thanks for the response u dick.
     
  5. Anonymous

    Anonymous Guest

    If your reading on 1099 is the same as how you will read on product you and whoever hires you are in trouble. Your question was phrased in a manner that shows zero understanding of the 1099 concept.
     
  6. Anonymous

    Anonymous Guest

    where are you "implying" for a job?
     
  7. Anonymous

    Anonymous Guest


    A independent rep works for himself and doesn't have taxes taken out of his paycheck. Hence, he is issued a 1099 rather than a W-2. Go pay an accountant $50 to explain it to you.

    Also, I hope you're in my territory.
     
  8. Anonymous

    Anonymous Guest

    No shit. What I wanted to know is how much do you have to put aside for taxes per month to pay quarterly / yearly? I understand that 1099 is an independent employee, "hence" the 1099 tax form, no benefits, no 401k, no gas reimbursement, etc. I figured people would assume that I understand taxes aren't automatically deducted out of your pay check when 1099. Also, I have spoken with an accountant and he said 30-35% of your net, not gross, put aside for federal taxes. But because there are so many write offs he estimated around 10-15% gross. I wanted to see if that was accurate and I didn't think I had to write this much detail to get an answer.
     
  9. Anonymous

    Anonymous Guest

    10% of gross is about right. Make sure that you incorporate as a sub chapter S and you will be given more opportunities to protect yourself and any income.
     
  10. Anonymous

    Anonymous Guest

    I was a 1099 rep for 6 yrs. I held back 25-30% of gross. Remember that your quarterly's will not have to start until the following year, and it will be based on the prior year. I always felt that was a comfortable amt for me. That way if you make more than you anticipated, you will have a cushion for your tax bill. Anything left over, you can throw in your SEP-IRA. Always file an extension!
     
  11. Anonymous

    Anonymous Guest

    Wow, this is really pathetic to really bash this person for this question...Really? You must have a real LOW self esteem to have to treat someone like this. I personally had the same question so I can pay into taxes on a monthly basis. You address me in that manner, I will chew you up and spit you out.........go get counseling!
     
  12. Anonymous

    Anonymous Guest

    I agree with you but that post was from 2010. Doubt they will see your comment.
     

Share This Page