16
Employment / Re: Taxes for independent contractors...
« on: Mar 25, 2011, 03:22 pm »
I have a full-time day job, as well as my stage management business on the side (paid as an IC). After many years of scraping to come up with annual payments, and the failure of paying quarterly, I hit upon the solution that worked for me. I have extra taxes deducted from my day job throughout the year, which approximate the tax bill I will owe from my IC income. Depending on the amount of SM work I get during the year, I might end up owing or I might end up with a refund, but the amount is never shockingly high either way. This is probably not the most responsible way to handle it, and it's only an option when you have multiple income streams, but it works for me.