I've been doing some computer stuff for a new doctor friend this year and now that he's finally up and working he paid me $20k all at once. He's still saying I can write stuff off and lower my taxes as he's paying me as a 1099 contractor.
I've always worked for a company and have zero knowledge about working on the side.
At my primary job I'm making out my 403b retirement savings already. I'm also contributing the maximum $5500 for a Roth IRA.
Should I treat this $20k as any other money I receive or should I have a separate account? I'll be getting paid monthly starting next year.
So here I am looking for some guidance on what to do next, are there any resources that I should start looking into first?
Submitted December 03, 2017 at 07:06AM by tracerit http://ift.tt/2nq9TMw
