[acallwood]

Thanks for the feedback! We're going to be charging a subscription fee down the road, but right now we're just stoked to be sharing our build with the world. Anyone singing up in Beta will get free withholding for life, which is a solid perk if you ask me. I'm a little biased though. =)

[newjersey]

Firstly, thank you for https everywhere. I see you have fees schedule here:

https://painless1099.com/home/fees

Are you guys from Nebraska? Did you just randomly pick Lincoln Savings Bank to partner with?

https://painless1099.com/public/docs/33611.pdf

just curious, do you automatically send withholding to the IRS automatically? I guess you make money with the withholding money you take in every paycheck but only transmit at the end of a quarter?

I never thought about this. Does an employer do the same with W-2? Assuming you have 100 employees paid monthly and you withhold $1 for each employee per pay month... For example, if the pay for the month of January would send me back $100 which the employer gets to keep That $100 until the end of March? And same for the pay period of February? Is this illegal? I've read that you can't do that with payroll tax but is income tax treated differently?

Sorry if these are stupid questions. I don't have a background in accounting.

[acallwood]

1) https is life.

2)We are NOT from Nebraska, but we found an awesome tech-forward bank in Lincoln Savings Bank who saw a pain point in the 1099 world and got really excited about helping us build out a tax solution.

3) We don't automatically send quarterlies (yet) but we do send reminders and make it really easy to remit that payment every quarter. Shortly, you'll see an automated solution built into the product.

4) In answer to your W-2 question, yes, employers automatically withhold taxes for their employees and remit that money to the IRS throughout the year. Essentially the government holds on to this cash all year and if you've overpaid, you'll get a refund. This is what happens in a fair amount of W-2 job situations, but when you're self-employed, you're on the hook for taxes and are expected to separate funds and pay estimated quarterlies throughout the year - a tough thing to manage on top of client work, life, and whatnot.