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Anyone here do independent consulting? Some questions . . .

I'm currently finishing up a consulting contract as a W-2 employee of a consulting firm. I have an opportunity to do a 1099 contract elsewhere. For 1099, I know I need to handle my own income taxes, but what other considerations (good or bad) do I need to take into account when negotiating the rate? (As example, can I write off the commute as a business expense).

Posted: 11/02/2016 at 1:49PM

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Current Thread:

Anyone here do independent consulting? Some questions . . . -- Hokie Bird 11/02/2016 1:49PM

I just went 1099 a month ago. -- BRVT 11/02/2016 3:22PM

I didn't get an accountant until I went from LLC to S-Corp ... -- vt90 11/02/2016 3:26PM

Exactly right, setting up a SEP Account, if you can swing it, you can save -- BRVT 11/02/2016 3:29PM

It depends on how big the task is -- lchoro 11/02/2016 2:07PM

You'll have to pay both sides of SS too.14.65% ** -- Hokebury 11/02/2016 2:04PM

Currently only 1/2 of that is deducted from my paycheck, right? -- Hokie Bird 11/02/2016 2:10PM

Correct ... -- vt90 11/02/2016 2:31PM

It may also cause you to have to make estimated payments depending on -- Hokebury 11/02/2016 2:06PM

There are lots of small W/Os. I'd suggest getting the IRS Guidelines. -- 48zip 11/02/2016 1:57PM

As a 1099 person you are self employed, you have your own business at that -- fordham 11/02/2016 1:57PM