Taxes
Some preliminary ideas about how we'll handle taxes next year.
Blueprint information
- Status:
- Not started
- Approver:
- None
- Priority:
- Undefined
- Drafter:
- James Vorderbruggen
- Direction:
- Needs approval
- Assignee:
- None
- Definition:
- Approved
- Series goal:
- None
- Implementation:
-
Unknown
- Milestone target:
- None
- Started by
- Completed by
Related branches
Related bugs
Sprints
Whiteboard
This is a list of the documents and how they would change hands if we got separate checks for each developer from the client.
* We would each give a W-9 to the client explains who you are.
* We would each get paid by the client for our share.
* We would each get 1099s at the end of the year from the clients.
* We would each list all clients on your personal Schedule C.
* We would each pay personal taxes on that income.
If one of us acted as money arbiter, the flow would only change slightly.
* That one person would give a W-9 to the client explaining who they are.
* That one person would pay everyone their share.
* That one person would get 1099s at the end of the year from the clients.
* That one person would also make 1099s that they would send to the other developers for the amount that they were paid for each job.
* We would each list all of the jobs we participated in on our personal Schedule C.
* We would each pay personal taxes on that income.
Work Items
Work items:
Decide whether an arbiter is appropriate: TODO
Nail down some more specifics, and whether all the info I already have is true: TODO
Figure out a good tax bracket resource: TODO
