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Get your taxes done using TurboTax
The short answer is no. Your income tax rates are not affected by the fact that you get paid as a 1099 contractor. Income tax is imposed on Taxable Income. So regardless if you start with W-2 wages or Form 1099 payments, you arrive at Taxable Income and then the tax rates are the same.
What surprises many 1099 contarctors is the Self Employment tax burden which was described above.
a week ago