I got a 1099 this year because I don't get taxes taken out every week. I made 6700 total for the year. How much will I owe. I'm a full time student and I don't thik my mom claims me. I am single and 20 years old I am really worried here...
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I got a 1099 this year because I don't get taxes taken out every week. I made 6700 total for the year. How much will I owe. I'm a full time student and I don't thik my mom claims me. I am single and 20 years old I am really worried here...
Well do you have any tax write offs... like reciepts that could go for your business... what did you get a 1099 for? You can claim yourself and possibly write off your tuition as well. Self-employment tax is 33%... you may want to start paying quartely
Self-employment tax is NOT 33%; it is 15.3%.
The use of the expenses to reduce your taxable income are valid, though.
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