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Cafepharma Message Boards | Pharma Sales, Device Sales, Lab Sales
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% of taxes taken out monthly when 1099?
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<p>[QUOTE="Anonymous, post: 3764339"]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![/QUOTE]</p><p><br /></p>
[QUOTE="Anonymous, post: 3764339"]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![/QUOTE]
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Cafepharma Message Boards | Pharma Sales, Device Sales, Lab Sales
Home
Forums
>
Medical Equipment/Device Sales
>
Wright Medical
>
% of taxes taken out monthly when 1099?
>
Cafepharma Message Boards | Pharma Sales, Device Sales, Lab Sales
Home
Forums
>
Medical Equipment/Device Sales
>
Wright Medical
>
% of taxes taken out monthly when 1099?
>