I work two jobs, one is a standard W2 where I make roughly 4800/yr net and a second job as a 1099 where I make 10,400/yr.
Everywhere I look, people tell me to save 30% just to be safe. However, I'm on a really tight budget right now (as you can tell by the very low amount of money that I make). I need to figure out exactly how much I will need to pay into my various taxes.
So based on my research, looks like I have to pay 15% for the 1099 income for federal, but I'm not sure about social security/medicare (I live in New Hampshire so I know there's no state income tax).
I found this website that estimates how much you have to pay, but I have no idea if that's for w2 or 1099 (the article I found it on said 1099 but I don't see any confirmation on the site).
Please, any help would be great.
Submitted April 08, 2017 at 09:48PM by Klatelbat http://ift.tt/2nt1JT2
