Hello.
I am an f1 student currently on opt.
I have been offered a 1099 position for 6 months at $50 per hour.
Is it the standard 33% or will it be more than that?
What is the percentage of tax that I must pay?
Thanks in advance
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Hello.
I am an f1 student currently on opt.
I have been offered a 1099 position for 6 months at $50 per hour.
Is it the standard 33% or will it be more than that?
What is the percentage of tax that I must pay?
Thanks in advance
The 1099-Misc income is reported on schedule C (Form 1040). You can deduct your business related expenses. On OPT, you don't pay 15.3% SE tax on this income. Only residents pay SE tax.
How you will treat the 1099-Misc income, read: Your U.S. Tax Return: W2 or 1099: Employee or Independent Contractor.
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