Hi everyone. I'm a 22 year old dude in Southern California.
Recently I found myself working with a production company who took me in to train and work on different live shows per contract as an independent contractor.
I worked one show back in Nov-Dec of 2016 and had to sit and wait for more gigs later in 2017. I lost my other job during that time so I filed unemployment and have been collecting w/o issue until recently when I was brought on for another contract with the production company.
The weeks that I worked there I filed my claim stating that I started working again and naturally I won't be getting paid out while I'm working this contract. So far this is fine, although I'm paid in net-30 (paid out 30 days after every day I work during the show) so I'll be without income for a bit (also fine, I have a little bit of savings left to get me by)
Anyways that was just a preface for a list of questions I have regarding independent contracting, money handling, taxes and unemployment. I haven't really done much before this other than work at a grocery store and pay rent so I'm trying to learn everything that I can!
- Do independent contractors qualify for unemployment while they're waiting on more contracts?
- In addition, if I'm paid in net30 can I still acquire benefits while I'm waiting for my checks (if I qualify at all for unemployment)
- What information should I be saving and recording regarding my income and taxes for independent contracting?
- How much should I ideally be saving per check? I was told to save 30% of whatever I make for tax purposes.
- What tax breaks do I qualify for as a contractor? A friend mentioned I could write off the miles I drive but I'm unsure of how to do so properly.
- Is there anything I seem to be missing based of my background and my questions?
Thanks to whoever helps my poor ignorant soul <3
Submitted April 06, 2017 at 01:36PM by seacee http://ift.tt/2oNMrp6
