Depends on how much you make , since you are 1099 you are considered self employed so off the top 15% ( normaLly 7.5% you contribute and your employer pays 7.5% ) . Depending on the line of work you are in will depend on how many write offs you'll have. Most guys that are 1099 labor really shouldn't be 1099 labor since the work hourly for a boss usually working construction . But it seems to be the industry standard for residential construction . If this is the case I'd set up a LLC for yourself and that way your write offs are more legitimate if you were to get audited . As stated above 30% would be a good start to put away for tax season , depending on how aggressive you and your CPA feel like getting with write offs .
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