Since I only work part time, I found it necessary to earn extra money for living expenses.

I worked as a webcam model, on an ongoing model website, as well as a promotional model. None of these businesses withheld taxes from what was paid to me. My question is what do I need to have to enable me to report these additional earnings on my taxes for 2007, since no W-2 will be provided by these businesses?:(

Your assistance is very much needed and appreciated. I hope that you will be able to give me the answer I need for my dilemma. The total amount earned-all jobs above combined totaled $1,204.71.

Thank you for your time.


Lisa Block

You will receive 1099 instead of W2. This is self employment income.

With your tax return you will file schedule C (Form 1040) to report this income. On schedule C, you can deduct your business related expenses. Your net income is subject to SE tax at 15.3%. For this you will also file schedule SE (Form 1040).

Lisa:

What MukatA says is accurate. As a model, you were considered an independent contractor and you must file Schedules C and SE on this income.

Now, if you worked for several agencies, and NONE of these agencies paid you more than $600, you may not get a Form 1099-MISC from the agency, because they are NOT REQUIRED to report payments less than $600.

However, that does NOT relieve you of the requirement to file the Schedules C and SE. You earned the income and you must report it.

You MAY NOT OWE ANY TAXES, however. Depending on your whole income situation, you may qualify for the Earned Income Credit, which may completely offset any self-employment taxes owed.

Lisa must file tax return if her self employment income is $400 or more.

Agreed!