Taxes and health insurance?
Hey!I am new to this board,but I like it.
I am going to get back into dancing,but How do you handle the taxes?I know clubs up in N.Y. give you a 1099-independent contractor if they "pay" you more than 500.00.But can I deduct my expenses?Someone once told me I'd have to pay 1,000.00 quarterly if I did it right.WTF!!!??I just want to pay my taxes so the government isn't up my ass.
Plus I want to get health insurance.Any help would be welcome. ;D
Re:Taxes and health insurance?
You might want to check out the Dollar Den forum for a lot of info on paying taxes and taking business deductions...some interesting stuff. Like makeup, nails and tanning are not deductible, but dresses, shoes and travel expenses are.
$1000 quarterly is very modest. That's about what you'd pay in taxes if you're making around $20,000/yr (varies depending on where you live and what deductions you can take). I assume you're making more than that.
I can't really help you with insurance. I have it, but I got it through my last job. I had health benefits, and if you leave for any reason, there's a policy where they have to let you keep it going (at your expense) for another 18 months. I liked my insurance so I kept it.