how much tax does an independent consultant has to pay on a $50,000 fee in New York City?

Question

I am a potential candidate for a job that pays either $50,000 or $60,000, I believe (I'm having an interview on Saturday and we haven't discuss salary yet). I would like to know what my taxes will be in order to be better informed and negotiate the yearly salary based on the taxex I would have to pay. They're not offering any fringe benefits or medical insurance

Answer 1

Look at this example of a estimated tax projection for an independent contractor. To run this projection for yourself, you'll need to know your income and deductions for the year so far, and then develop a little spreadsheet to multiply those figures into an annual amount.Refer this link provided: http://taxes.about.com/od/paymentoptions/a/estimated_tax_3.htm