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View Full Version : I owe taxes from 2006, I was self emplyed. How much do I owe now?


EJMAN123
Oct 12, 2008, 09:09 PM
I did a little thing over 3 months of summer (I was 18) I was doing landscaping. I got a letter in the mail, saying I owed on the money I make. I have no idea how much I have to pay I am freaking out. I made 11735.50 in 2006, and In 2007 I worked off and on I made 23232.89. I was self emplyed both times. I drove around 30k miles. I am not married nor do I have kids.

Ace High
Oct 12, 2008, 09:13 PM
Have you talked with a Tax accountant yet? They can really help you, and the stress on you will be greatly reduced. Their fee is tax deductible. -- Ace

EJMAN123
Oct 12, 2008, 09:24 PM
No, I have not talked with a tax accountant. Is that like H&R block? Thanks!

Clough
Oct 13, 2008, 12:58 AM
Hi, EJMAN123!

I'm sure that one of our tax experts will be along eventually to advise you. They are quite excellent in the advice that they give.

It just might take them some time to get around to addressing your question.


Thanks!

MukatA
Oct 13, 2008, 05:47 AM
EJMAN123
You must file your 2006 and 2007 tax return. On the tax due you will also pay interest and penalty.

Figure out your income and business related expenses. You can deduct business related expenses.
You are self employed or independent contractor. 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 about self employed (or independent contractor) tax filing and payment of estimated taxes: Your U.S. Tax Return: Tax Filing by Self Employed Sole Proprietor or Independent Contractor (http://taxipay.blogspot.com/2008/04/tax-filing-by-self-employed-sole.html)

AtlantaTaxExpert
Oct 13, 2008, 08:55 AM
EJMAN:

Any competent tax professional can prepare your returns in a day or so. If you want MY help, email me at [email protected].

You should be able to deduct the mileage incurred while working the landscape job, which will greatly reduce your tax liability.

EJMAN123
Oct 13, 2008, 04:46 PM
Thanks guys, I will email you right now.