[Emma2803]

I just graduated from college in 'hawaii
Im from france and my visa is an opt visa
I'm self emplyoed in the PR field
And I would like to know as a self-employed do I pay tax under the opt visa? If so, how? And how much?
And are my "emplyers" do pay taxes on me and should I add the taxes to my invoices?

Thank you for all your help

[AtlantaTaxExpert]

While on OPT, you retain your F-1 status and will file Form 1040NR with a Schedule C to list both your income and your expenses. You do NOT, however, file Schedule SE, as you are exempt from self-employment tax.

You must also file Form 8843.

The first year, you have no requirement to file quarterly estimated taxes (you will pay the tax due when you file for 2010), but for 2011 and beyond, you must file Form 1040-ES and make qurterly estimated tax payments.

[Unspokenwords]

I am curious... Can OPT be self employed? Never heard of that... Can you brief me how can OPT be self employed and if any paperwork needs to be done?

[AtlantaTaxExpert]

Many employers put students on OPT under contractor status, withholding NO taxes and issuing them a Form 1099-MISC for what was paid to them.

Technically, it is a violation of the visa, but it is so minor that it is ignored, because the tax due will the same, and it actually beneficial to the OPT student because he/she can deduct valid employee expenses on the Schedule C that otherwise could NOT be deducted.