What should I expect to pay in taxes as in ... - Finance information

Question by ryn_fg : What should I expect to pay in taxes as in Independent Contractor in New York City ?
What is the tax rate for independent contractors in NYC? My average income is around $ 2,200 / month. When do I pay taxes? Will my work give me something like a W2? Best answer:

Answer by Stephen Weinstein
W-2?s go to employees. Independent contractors receive a 1099thIn NYC, you pay:First Federal income tax (up to 28%?, But less at your income level, maybe 15%)Second NY State income tax (up to 6.85%)Third NYC income tax (up to 4%)4th Federal self-employment tax (15.3% of ?net earnings?, which [income minus expenses] is defined as 0.9235 times profits)5th NYC unincorporated business tax (not sure of the rates)

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