this is a question to all those software contractors out there. i currently work for slave wages at a company. i've been an "intern" for the last 4 years, on and off, during breaks from school. i'm going to grad school in august and my company will still have work for me to do. however, considering i will be teaching a class and taking a full course schedule, my time will be worth a premium. hence, i have told them that when i leave for grad school, i am quitting the company (and abandoning my huge $12/hour wage, which by the way includes no benefits or vacation) and i will be available as a contractor for $50/hour, which they still view as a great price, as it is for an internet developer).
here's what i need to know: what kind of tax stuff do i have to have done before i can do this? i want to set up a shell company (Ace Consulting or something like that) that my current company can write the check to. so, i think all i have to do is set up a business checking account for said company and i'll be able to cash my checks. but, in order to do that, do i have to apply for some kind of license or anything like that? and how would i file my taxes? can anyone help me out?
here's what i need to know: what kind of tax stuff do i have to have done before i can do this? i want to set up a shell company (Ace Consulting or something like that) that my current company can write the check to. so, i think all i have to do is set up a business checking account for said company and i'll be able to cash my checks. but, in order to do that, do i have to apply for some kind of license or anything like that? and how would i file my taxes? can anyone help me out?
Facebook
Twitter