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Hello,
I'm looking into a job that will hire me as an independent contractor, but I'm not quite sure how the taxes works since I'll be considered freelance. Will I have to set aside money per pay check for my taxes? And what percentage of my income should I save if so? Any clarifications would help me greatly!
Thank you for your time!
You do not owe a tax until one is assessed. A tax can not be assessed until you notify the government that you might be liable for one. Courts have ruled that there is no law that requires you to notify the government that you might be liable for a tax. You need to take a civics class at the community college so you can learn about stuff like this and how to defend yourself if IRS agents approach you. Income tax works because public schools stopped teaching civics and nobody knows how to defend themselves.
