at my current job, I'm basically working on an independent contractor basis for the purposes of payroll. I've never done this before, so I'm not sure the best way to go about this.
I know that my boss is going to "let me know" how to report my time to her and that I'm going to be paid biweekly, but we're coming up on the end of my second full week and we haven't yet discussed how I'm supposed to report my time to her.
I'm thinking of putting together an invoice for my hours of work, then attaching a schedule with the breakdown for how I actually spent my hours for the things that are billable to her clients.
My question is how to put together this invoice. Should I create a template for it on Excel? Does excel have templates for this built in? Should I do it in Word and do all the calculations myself?
And in addition, as this means I need to pay my own estimated taxes [US & California] (assuming I end up actually owing anything, something on the IRS site said to use the prior year's earnings to judge whether I have to pay estimated taxes, and as I didn't really earn anything last year... but anyway)... gah, ok, got distracted there. As I may need to pay my own estimated taxes, do I need invoices for my records? If so, what information do I need to make sure is on them?
Thanks! |
