Tax savings strategy for self-employed IT consultant Dear TaxGuru,
Thank you for your previous replies, I really appreciate your advise. Now, for the most important advice to me, can you suggest some ideas for saving taxes for for my situation as follows;
I am an IT consultant making over $120,000 as an independent consultant. I work in new jersey and travel to NY city. As such, I am struggling to find expenses, all I have is travel expenses to NY, my meal expenses, and everything is provided by my client in NY.
I was told by my accountant that I would have to pay over $30,000 in taxes not including interest and penalties. I have not paid the estimated taxes yet. I am married with 2 kids and I have a high mortgage and taxes per month of $3,200 per month. Where can I pay these taxes??
Please help and I will be most grateful to you! |