<prompt> Human: Background: Me and my wife recently moved to Chicago, Illinois from San Francisco, California for my work. My wife unfortunately had to leave her job that she really liked and where they really liked her. Fortunately they offered to keep her on the basis of her being a contractor for them, not a regular employee with benefits, etc, but she will get to work from home. This makes it more safe for said company pending it not working out and they do not have to register in IL. She will have to create an LLC which will be reimbursed by the company. Her hourly rate will be greatly increased due to lack of benefits and having to pay her own taxes. Her hourly rate will be slightly over double what it was previously.Questions:How much should we set aside for taxes?Is there any other business feestaxes that we should be aware of other than income tax?What all can we write off on next years taxes?Do I need a business bank account?Were young and new to all of this. Any other tips or info would be so greatly appreciated! Thank you.Edit: added working from home  <response>: I think the rule of thumb around here is to set aside 30-40 for taxes remember she has to make quarterly paymentsHave a brief talk with an accountant for the rest. 