I receive a 1099-misc for 152,000.00.

About how much taxes should I pay?

Thanks,

Antonio

You are self employed or independent contractor.

You will report your income and expenses on schedule C or C-EZ (Form 1040). Then you put net income (or loss) on line 12 of Form 1040. This income is subject to SE tax at 15.3% (this is shown on line 57 of Form 1040). Half of SE tax is deductible on line 27 of Form 1040. 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)

Hopefully, you prepared Schedule SE, which would have capped the Social Security portion of your SE tax at $104,000.

There is NO cap on the Medicare portion of the SE tax.