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Question for Independent Contractors... by niwikki2005-03-15 16:06:21
  What I do. (in Canada) by techi870 2005-03-15 16:24:54
I work through a contacting agency so a few things are different.

I subit my hours once a month. All I submit is how many hours I work a day. One of the managers approve what I submit and then I get paid for them. As for taxes, the contracting agency taxes off CPP and UI (Canada pension Plan and Unemployment insurance). I'm responsible for paying my taxes. I don't have to pay the tax until I actually file my taxes. The trick is making sure you set enough aside to pay at the end of the year. What I do, is once I have a certain amount set aside I put it into a GIC. That way I can collect some interest before I use it to pay my taxes. Just make sure the GIC is cashable at any time.
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