Cash Flow Planning for Life - Helping you reach your personal & professional financial goals.

Cash Flow Planning for Life

Helping you reach your personal & professional financial goals.

You probably think you are ready to file because you have received a 1099 for your services, held on to all your receipts, and have all your documents in order.

Independent Contractor Tax-FormsThis is the sixth installment of
Independent Contractor Taxes…Know Your Options.
It can be downloaded from our eBook library.

It seems like everything is falling into to place with your Independent Contractor status. Once you file your Independent Contractor Tax Forms, it will be smooth sailing!

Wrong! Have you…

… done all of your homework?

  • First – did you determine your independent contractor status based on The Internal Revenue service three categories factor test?
  • Second – are you aware of the different outcomes when it comes to how you pay your taxes? Do you know the benefits that are available?
  • Third – have you sat down with a tax and/or legal professional to review your individual situation?

Being self-employed or classified as an independent contractor is not something to be taken lightly. There are many options and pitfalls out there that can be a benefit to you and/or trip you up if not planned for correctly.

It is so important to understand exactly what your options are, and to know what taxes need to be paid and which tax forms filed. You can eliminate the stress of getting a notice this year you owe thousands of dollars in tax, when in the previous years you received thousands of dollars back in tax refunds.

Meeting with a tax professional sooner than later can give you “peace of mind” with no surprises.  Over the years, I have had to explain too many times to surprised tax papers why they OWED thousands of dollars.

At Makara & Associates, we are accountants that are committed to education. Take a moment, and download our FREE  informative, eBook: IndependeIndependent-Contractor-Taxes...Know-Your-Optionsnt Contractor Taxes…Know Your Options. Learn more about independent contractor taxes, as well as your options. Visit our online library for additional FREE eBooks.

If you decide that you need to consult with a tax professional in person, we’ll be happy to meet with you and thoroughly review your individual tax situation. One of the things our clients share with us is how much they appreciate our personal attention to all the details.

If you would like to set up a meeting now, contact us online, or call our Naples Office: (239) 384-9688 or our Fort Myers Office: (239) 768-5008.

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This information is based on facts, assumptions and representations as stated and authorities that are subject to change. We will not update this information for subsequent legislative or administrative changes of future judicial interpretations.
LEGAL NOTICE AND DISCLAIMER: The information within this blog is for informational and educational purposes only and is not tax advice and should not be used as such. The facts of each individual situation can have significantly different outcomes when applying tax law. The hiring of a CPA is an important decision not to be based solely on advertisements.

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