If not, see if you qualify for a group or small-business rate. For help finding health insurance on your own, see Buying Your Own Health Insurance . See one of my earlier columns, Retirement Savings and a Tax Break for the Self-Employed, for a brief description of these plans, or download IRS Publication 560, Retirement Plans for Small Business , for more detailed information. Your tax situation will be more complicated, too. For more information about estimated taxes, see IRS Publication 505 .
Independent contractors have to pay more taxes than employees.
But when you're an independent contractor, you're responsible for the whole 15. You can deduct the amount you pay in self-employment taxes from your income as an independent contractor, which helps ease the pain a little bit. You can get special tax breaks, but you'll need to keep good records. For example, you can deduct the money you pay for equipment and other business expenses. You may also be able to deduct part of your rent or mortgage and utilities if your office is in your home.