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

    Apr 4, 2007, 07:34 PM
    1099 taxes
    I work for a company get an hourly wage but no taxes taken out ,weekly paycheck now I get 1099 what kind of deductions do I take as I work for this company and have no cost of paying employes or any other kind of business related deductions,such as equipment,etc...
    wags's Avatar
    wags Posts: 80, Reputation: 4
    Junior Member
    		  
    #2

    Apr 6, 2007, 06:28 PM
    From the little you wrote, I would say you're an employee of the company, not outside labor. They should be withholding taxed, paying Social Security etc on your wages. You will have to pay the full social security taxes (both yours and the employers) and all the income taxes, state and federal. You may want to speak with the IRS regarding this situation. The social security taxes are about 15% +, so the money you THINK your making your not. The company may be breaking the law and cheating you. There are very strict rules on who can be 1099'd and who is an employee.
    Good luck !
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