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Recent content by tigeo

  1. tigeo

    Tax Advice Requested: 1099 Related

    This is how I've done it as a sole proprietor/LLC for the last 5 years....meticulous record keeping and copious amounts of time researching/understanding the tax side of it. It's worked out great.
  2. tigeo

    Tax Advice Requested: 1099 Related

    Happy to chat if you would like. It's not complicated but does require some work/thought if you want to do it right.
  3. tigeo

    Tax Advice Requested: 1099 Related

    Take your last year's 1040 and calc your effective tax - total tax (line 24)/total income (line 9) and see where you land, should be in that ballpark but of course taxes are so variable just make sure you include social security/medicare in your total tax if you are a W2 and don't forget state -...
  4. tigeo

    Tax Advice Requested: 1099 Related

    Correct - 1099s were elbible for unemployment even though they don't pay the insurance under CARES. There were also PPP and EIDL funds available to soles like me.
  5. tigeo

    Tax Advice Requested: 1099 Related

    I don't believe so but to be accurate, I can only speak to VA as that's where my LLC is.
  6. tigeo

    Tax Advice Requested: 1099 Related

    There is no unemployment insurance required (in VA) if you are a sole 1099.
  7. tigeo

    Tax Advice Requested: 1099 Related

    Been a sole LLC/1099 guy for 5 years. You can deduct miles at the going government rate or actual costs but not both for work use of a vehicle. I have a lot of miles from my home office which is my place of business so it always made sense to do the miles. For actuals it will a % based on the...
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