I get paid with a 1099 I get 10hr how much of taxes will I pay at the end of the year
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I get paid with a 1099 I get 10hr how much of taxes will I pay at the end of the year
The 1099-misc income is reported on schedule C or C-EZ (Form 1040). You can deduct your business related expenses. Net income is subject to SE tax at 15.3%.
How you will treat the 1099-Misc income, read: Your U.S. Tax Return: W2 vs 1099-Misc: Employee vs Independent Contractor.
Expect to pay at least one-third of your income for self-employment and income taxes, plus whatever you must pay to state income taxes.
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