“I’m paid as a self-contractor – what should I be doing to prepare for taxes?”
If you are paid as a self-contractor and no taxes are being withheld from your pay then you’re responsible to pay the federal, Social Security, Medicare, state and local taxes on this income at tax time. You also can deduct expenses that you incur during the year. For example any advertising fees, meals, mileage, office supplies, etc. You may also need to pay quarterly estimated tax payments.
Reach out to your local tax professionals for more information at Meadville Tax Service. firstname.lastname@example.org or 814-333-2488.