Might help
Posted By: Patti on 2006-12-11
In Reply to: yes..they are taking out for SS and Medicare... - MTMOM
Like I said, the IRS does not know what your toal combined income is from all your job(s) IC or if you are married a combined income. So it is up to you to figure out what your tax liability is and then have that much either withheld or pay at the end of the year if you are an IC. All an employer does is to withhold the taxes for you and send it in for you. But I had an extra 100 a month withheld because my business generates a good income and I knew I was just being an employee for about a year while I got their EMR's in place and trained an in-house Transcriptionist to do the work. To me it was easier but most of the time I just pay at the end of the year and save for it. Have a little bit of a penalty but not that much. If you are married you can always have your husband over withold as I did that when I was married.
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