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-   -   How much do I owe? (https://www.askmehelpdesk.com/showthread.php?t=312647)

  • Feb 3, 2009, 05:35 PM
    Salineth
    How much do I owe?
    I received a 1099 for $756. About how much in taxes do I owe on it.
  • Feb 3, 2009, 07:33 PM
    MukatA

    Is it 1099-misc? If yes, you must file tax return. 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
  • Feb 18, 2009, 09:37 AM
    AtlantaTaxExpert
    At most, $115 in self-employment taxes.

    But that is if you have NO offsetting expenses.

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