Mark (poisonkitty) wrote,
Mark
poisonkitty

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slow day

Ok, I guess it was a result of my 5mi run last night, but I did not wake up this morning. When I did wake up at 12:30pm, I had pretty low blood sugar (I'm diabetic for those not in the know). I remember leaving a few probably incoherent voicemails on my boss' machine shortly after I got up. All of my bosses are at some golf tournament here in Florida, so I doubt any of them will even get the message until Monday. I'm also sufferring from short-timer's disease, as my last day still appears to be April 5.

I must now consider my taxes.

Independent contractors (form 1099) are responsible for paying their own employer's tax (15.3%) in addition to their normal income tax. I find it interesting that many Americans balk at the Canadian notion of paying almost half your income to the government, but that is indeed what we do here. The only difference is that uncle sam swipes 15.3% before you ever see your paycheck, whereas Cannucks get the whole shebang and pay all of their own taxes. Hmmm...would I rather get twice as much money, then give half away, or just get only the money that I plan on keeping? Here, we do something in between. I guess it's more of a psychological thing...I work with an independent contractor who probably makes $130k/yr but pays almost half that in taxes and buys his own insurance/etc... Is it still all that impressive? Comparing him to the average income in this industry, he probably actually keeps about the same as the full-time employee sitting next to him who has a far less impressive yearly income...

...sssooo I've been getting tax advice from a former Andersen Consultant..should I be afraid? He assures me that he hasn't been with them in many years. In fact, though he's a CPA, he's also a software developer. That impresses me just a little.
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