you don't pay double...sm
Posted By: IC on 2005-12-06
In Reply to: I pay up to 39% in taxes but that is because - IC
the only thing you pay that your employer would have paid is the 7-ish% for Social Security. Together you and your employer -- or you and your self -- pay 15%. Otherwise all your other taxes are the same, self employed or employee. Since the poster doesn't sound too confident on tax laws, I agree to see an accountant. Hopefully find one who can teach these things as you go along. As far as what you can deduct, my CPA tells me we are little fish in a big pond and the IRS is not trying to catch us. You can deduct a lot of "things" that most people self employed are pretty comfortable taking - mileage even if you work from home - any office supplies whether they are really for kid's school or your office - TV for your office - consulting fees for seeing your therapist...again, see a tax consultant
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Double check your glasses...
Poster did not say the schools she/he mentioned were approved.
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