AJU9177
Feb 2, 2009, 09:23 PM
What if I got a form 1099 nonemployee compensation for 2,000 do I owe that money?:(
MukatA
Feb 2, 2009, 11:51 PM
You are self employed or independent contractor. You must file your tax return if yourself 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 (http://taxipay.blogspot.com/2008/04/tax-filing-by-self-employed-sole.html)