Ask Experts Questions for FREE Help !
Ask

Tax Questions about F1 students doing CPT With Contractor

Asked Apr 13, 2009, 12:57 AM — 1 Answer
I read some past posts in this forum, but still have some questions.
I started my work with CPT permission last November. However, I got very low income (less then 800) during this period. In this year, I got about 900$ every month in the first quarter. Now here is the questions.

1. According to my income in 2008, does it mean that I don't need to file 1040NR before April 15?
2. Because I don't have any w2 income, do I need to pay the tax for the first quarter 2009?
According 1040-ES(NR). It says that I don't need to pay for the first quarter if I don't have wages subject to U.S income tax withholding. That is, I need to pay a half amount of the tax I should pay in the year by June 15th. Is that right?

If I don't provide enough information, please let me know.

Any answer is very appreciated.

1 Answer
AtlantaTaxExpert's Avatar
AtlantaTaxExpert Posts: 19,866, Reputation: 3723
Senior Tax Expert
 
#2

Jun 10, 2009, 09:44 AM


1) If your TOTAL income level for 2008 is below $3,500, you have NO LEGAL OBLIGATION to file any type of federal tax return. However, if money was withheld was withheld from your salary for state or federal income taxes, you may WANT to file to recover that money.

2) If you are being paid in 2009 under a Form 1099-MISC as an independent contractor, you need NOT file Form 1040-ES if your projected income for all of 2009 will not exceed $3,500. You can also avoid paying estimated taxes for the first two quarters if your six month income from 1 January to 31 May 2009 will not exceed $3,500.

This advice assumes you are NOT liable for self-employment taxes due to being under a F-1 visa.
Helpful

Not your question? Ask your question View similar questions

 
Thread Tools Search this Thread
Search this Thread:

Advanced Search

Add your answer here.

Remove Text Formatting

Undo
Redo
 
Decrease Size
Increase Size
Bold
Italic
Underline
Align Left
Align Center
Align Right
Ordered List
Unordered List
Decrease Indent
Increase Indent
Insert Email Link
Wrap [QUOTE] tags around selected text
Wrap [CODE] tags around selected text
Wrap [HTML] tags around selected text
Wrap [PHP] tags around selected text
Wrap [YOUTUBE] tags around selected text
Notification Type:



Check out some similar questions!

F1 Students [ 2 Answers ]

Students on F1 visa from Czech republic are not exempt from paying social security tax and medicatra tax on OPT? Thank you

Income Tax for Students on OPT [ 12 Answers ]

I am an Indian Masters Graduate, currently working on OPT. I would like to Know what is the percentage of tax( in California) while working on OPT. And Say if I am given 10,000 USD taxable amount from the company, How much will I receive in hand after applying California taxes. Thanks, Nitin.

Sub-contractor / CONTRACTOR liability [ 1 Answers ]

We Had Flooring Installed In Our Home. The Company Who We Bought The Flooring Promised The Flooring To Be Glued Down. Instead Their Sub-contracted Foreign Installers Drilled Through The Concrete. Water Is Now Shooting Up Through The Holes Like A Fountain. The Company Told Us That The Damage...

NY tax for students [ 1 Answers ]

I'm a student in NY state and worked at an internship last summer in NY. Also during 2006, I worked in NJ, which is where my home is. Which tax forms do I file? I thought I would file IT-203 for NY, the nonresident return, but there is a statement that says "If you maintain living quarters in NY...


View more Taxes questions Search