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siripongchai · Mar 7, 2010, 07:07 PM

Hi

I am working as freelance on OPT right now, I have been 3 years. And I have no idea what is the first step to start because this is my first time to pay a tax. I am aware that I do not have to pay for social security and medicare taxes?

Some people told me, I have to be a self- employment. Are they right?

Could you please tell me which form should I have to fill out? For freelance person.

Thank you so much

MukatA · Mar 8, 2010, 01:03 PM

On F1/OPT you are exempt from residency for 5-years. You must file non-resident tax return Form 1040NR or 1040NR-EZ and Form 8843.

Your income is not subject to FICA taxes but you must pay federal and state income taxes. On you have OPT income you will get deduction based on tax treaty between the U.S. and your country. Your U.S. Tax Return: U.S. Tax Filing Requirements for Non-Residents

You are self employed. You must file your tax return if yourself employed income is $400 or more. You will report your income and business related expenses on schedule C or C-EZ (Form 1040). Then you put net income (or loss) on line 12 of Form 1040. You will not pay SE tax at 15.3% on this income. Your U.S. Tax Return: Tax Filing by Self Employed Sole Proprietor or Independent Contractor

siripongchai · Mar 9, 2010, 04:24 PM

I come from THAILAND , Can I still use 1040NR or 1040NR-EZ?

MukatA · Mar 10, 2010, 05:55 AM

Yes.