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Ask HN: Tax advice for independent contractor

1 points by shliachtx ↗ HN
I am a software developer getting paid hourly on a W2. I was recently offered some independent contracting work, and am trying to figure out how I would file taxes. Should I create a corporation? Do I need to do anything now, or can I wait until I need to file taxes at the end of the year?

4 comments

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bufferoverflow
You don't need to create a corporation, you can get paid via 1099.

Incorporating makes sense when you start making multiple hundreds of thousands of dollars. Until then it would be a massive pain the accounting butt.

jaxtellerSoA
>you can get paid via 1099.

This. I believe you need to file quarterly.

bufferoverflow
You need to pay estimated taxes quarterly, but file only once a year (correct me if I'm wrong).
shliachtx
So an S Corp is too much bother? A friend of mine suggested looking at that.