Question about freelance/contractor taxes in California.
I am starting to do more and more remote freelancing and I am being paid with a check and am personally responsible for taking out my taxes.
So I will get a 1099 at the end of the year which I need to submit to the government.
I am curious how much tax/what percentage will be taken out (the client is not taking out taxes from the check they give me, i am responsible.)
I live in California.
Thanks for any info,
i’m not in cali (in illinois) but it usually shakes out to around 20% for me when all’s said and done. give or take. depends on a lot of stuff though. do you have a mortgage? kids? expenses against it? state rate, how much you make, have a paying job also that is withholding taxes… on and on. also you are supposed to pay quarterly estimates. not just all on april 15. that’s not a real big deal though. just have to pay a little penalty if you wait. state is usually worse about it than fed but you avoid it by paying quarterly. i say go get an accountant’s advice. especially if it’s a significant part of your income.