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I've done several years of contracting, both 1099 and W2; I may be able to answer specific questions.
The 1st year I was a 1099, I got audited. I was found to have filed incorrectly and didn't pay enough taxes. I got a nasty letter of the IRS informing me that I was .85 off. No, seriously.
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"You go to the track with the Porsche you have, not the Porsche you wish you had."
'03 E46 M3
'57 356A
Various VWs
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