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    timmygee's Avatar
    timmygee Posts: 1, Reputation: 1
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    #1

    Feb 11, 2009, 09:51 PM
    1099 misc
    I did some small assembly work last year at home and received a 1099 misc for $1800.00. Would there be a tax advantage to forming an s-corp for future wages? Estimated wages this year will be $10,000.00
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Feb 11, 2009, 11:34 PM

    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: Your U.S. Tax Return: Tax Filing by Self Employed Sole Proprietor or Independent Contractor
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