Working as an independent contractor can have its perks: self made hours, variety of work, etc. However, being self employed also means facing a certain amount of financial uncertainty, and it requires you to face taxes differently. Not being aware of your tax obligations when you are self employed can mean opening yourself up to IRS problems.
DailyFinance online provides a helpful article providing finance and tax tips for freelancers and independent contractors. This article points out that many self-employed individuals at one time or another found they were unable to pay their tax debt. Read more to learn about the difference in tax forms and payments that freelancers and Independent contractors have to deal with.
Also, be aware that if you have not paid your taxes and/or are facing issues with the IRS, you should get help. You can contact us for a free consultation. To read the DailyFinance article click here. http://www.dailyfinance.com/2013/01/31/freelancing-tax-tips-contractors-1099-form/