Thanks for feedback Jason. I forgot about the expected double FICA tax, which essentially drops $100k income as self employed down to $92k, plus other standard taxes. (I'm sure it's also good advise to contact a good tax acct., in addition to lawyer when considering move to self employment.)
~ Dakota On Wed, Nov 19, 2008 at 6:35 PM, Jason Fisher <[EMAIL PROTECTED]> wrote: > I'm sure that others will be able to provide more specific responses, but > my primary advice to friends and family who contemplate a move to solo / > consulting as primary income is to remember the impact of covering all your > own FICA taxes (Social Security and Medicare) and your own health insurance, > which can be quite rough. FICA alone will run you an additional 7.65% on > top of your current marginal tax rate. > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-talk/message.cfm/messageid:315690 Subscription: http://www.houseoffusion.com/groups/cf-talk/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.4
