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    gratefuldead's Avatar
    gratefuldead Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Mar 8, 2010, 09:03 PM
    Get a 1099misc box 6 but I don't have any business related deductions
    Registered nurse that works at the same in home facility each day. I have 4 kids and only made 53000 dollars in 2009. I have no business related deductions and the self employment tax is going to sink my ship. What do I do? Am I just in serious trouble?
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Mar 8, 2010, 11:01 PM

    When an employee gets check, employer deducts SS tax and Medicare tax from the payment, which you did not pay.
    With 1099-misc, you will pay SE tax which works out to be about 7.6% more than in case of W-2 employee. http://taxipay.blogspot.com/2008/04/...oyed-sole.html
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