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1099s and Freelance Writing
I might be getting a job writing short articles for a website. The site is launching in February so I will most likely only make around $1500 from the job this year. I know that if you make over $600 per year you get a 1099, but how do I know how much I will have to pay in?
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You are self employed or independent contractor. 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 about self employed (or independent contractor) tax filing and payment of estimated taxes: Your U.S. Tax Return: Tax Filing by Self Employed Sole Proprietor or Independent Contractor |
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