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Home > Money & Services > Taxes   »   1099 misc

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Old Feb 4, 2009, 03:37 PM
elzwrr
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1099 misc

i work for a resturant. they gave me a 1099 misc with my wages in the non employee compensation box. I am using turbo tax and dont really understand what to do cause i dont own a business and that is what it is telling me on turbo tax. should the wages have been put in box 3 other income.
elzwrr

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Old Feb 4, 2009, 10:25 PM   #2  
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You will be considered self employed or independent contractor. If you think that you are an employee, then you can file Form SS-8 with IRS. IRS will sort out with your employer.

1099-misc income: You must file your tax return if your self employed income is $400 or more. You will report your income and expenses on schedule C or C-EZ (Form 1040). This income is subject to SE tax at 15.3%. Read: Your U.S. Tax Return: Tax Filing by Self Employed Sole Proprietor or Independent Contractor

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elzwrr agrees: thank you
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Old Feb 10, 2009, 01:46 PM   #3  
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There is also a form you can file with your tax return that has the same effect of filing Form SS-8, in effect saying that you are an employee, not a contractor, and should NOT be paying Self-employment taxes.

However, by filing this form, you can get your employer into some serious trouble with the IRS, and when he finds out who turned him in (and he WILL find out), I suspect your future at the restaurant will be short-lived.

If you do not care about keeping your current job, then go for it.
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