 |
|
| Browse | Ask | Answer | Search | Join/Login |
|
|
||||
|
Independent Contractor?
Hello I took on this part time job since last May and immediately they started paying me via Western Union and also Pay Pal. Never once did they ever discuss they'd be reporting wages, I always believed it was "under the table" money. They never had sign a W-9 or an independent Contractor form, nothing. Well just last week they send me an email that states that they need me to sign a W-9 form because I made over $600 with them. So basically I'm going to be taxed for the money I earned. Only prob is, I didn't hold any money over that I made, to pay for taxes. I feel very deceived and maybe this was my own naïve nature. I probably should have asked from the beginning about this but never in all the jobs I've ever had, were things handled like this. Does anyone have any solutions for me? Thanks so much!:confused:
|
||||
|
||||
|
First, are you a international student, resident alien, U.S. citizen, whatever?
Second, how much money are we talking about? Third, how old are you? Finally, by law, they are doing the correct thing legally, so answer my questions so I can give you an estimate on how much, if any, you will owe in taxes. |
||||
|
||||
|
I have to ask, how you could think you could do work, get paid and not have to pay taxes on it.
Even if they did not report it, "under the table money" is suppose to be reported or you are basically cheating on your taxes. It does not matter if they report your income on a 1099 or not, you by law are suppose to report it on your taxes. And as a self employed people you have also the self employment tax that is included on your income. |
||||
|
||||
|
Fr Chuck is right, of course, but I will not pile on!
Did a quick calculation. If you have NO deductions on your Schedule C (unlikely, as you had to use some of your own money for expenses), you would owe $353, ALL in self-employment tax. You MAY want to get professional tax help, as you have to file Form 1040 with Schedules C and SE and EIC and maybe Form 4562. If you want my help, contact me at [email protected]. |
||||
| Question Tools | Search this Question |
Add your answer here.
Check out some similar questions!
How do I properly file my taxes if I worked as an Employee and an Independent Contractor at various times throughout the year?
Could a Massage Therapist or Electrologist satisfy the federal requirements to be compensated as an independent agent by a retail salon in Indiana?
I work as a marketing assistant for a real estate company, I get a base salary that the company pays, and on top of that I get a "commission bonus" from the specific agents I work for that is paid directly out of pocket by those agents. The commission bonus is based on what those agents themselves...
In 2005, I worked primarily as an independent contractor, for several small companies and non-profits. Two of them were for over $600 and sent me 1099s, but three of them were under $600 jobs and didn't send me anything. Am I obligated to report these three? (I'm imagining the answer is yes, but I...
I just took 2nd job--as independent contractor. I don't want to end up having to pay at end of tax year (2006) so can someone tell me what I need to do to pay taxes throughout year out of each check I receive so I don't end up having to pay at the end of the year next year?? I'd rather do it on...
View more questions Search
|
