if i get paid 120000 and considered a 1099 contractor how much will $46 a day per diem take off my taxes?

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  • if i get paid 120000 and considered a 1099 contractor how much will $46 a day per diem take off my taxes?


Answer #1 | 10/12 2013 09:38
For how many days?
Positive: 75 %
Answer #2 | 10/12 2013 09:39
Not enough info obviously.
Positive: 69 %
Answer #3 | 10/12 2013 09:53
Only the amount spent on eligible expenses. You don't give enough info to say.
Positive: 49 %
Answer #4 | 10/12 2013 10:01
only for the days you were away from home you don't get per diem allowances when you work locally
Positive: 17 %
Answer #5 | 10/12 2013 11:49
per diem take off my taxes and for what purpose and use when you are a self employed independent contractor for the 2013 tax year during the 2014 tax filing season. Whether you do get the 1099 form from THEM or you do NOT get the 1099 form from them you would still be required to Use your own good daily written receipt books and records in order to correctly complete your 1040 income tax return during the 2013 tax filing season. Self employed independent contractor using your daily written receipt book records to report your gross income on the schedule C or CEZ along with the SE to determine your NET PROFIT or LOSS from your business income during the tax year for this purpose. SE your social security medicare tax amounts that you would OWE on your NET profit amount that would end up the page 1 line 12 from the schedule C and any SE tax owed page 2 line 56 and page 1 line 27 Deductible part of self employment tax attach schedule SE line 27 $$$ amount. Starting, Operating, or Closing a Business Starting a Business Starting a business could be exciting. If you're considering starting a business, start here. This section provides information on everything from a checklist for a new business, to selecting a business structure, and more. -Employed/Self-Employed-Individuals-Tax-Center Businesses/Small-Businesses-&-Self-Employed/Starting-a-Busin ess /Starting,-Operating,-or-Closing-a-Business Online Learning Tools The Small Business Taxes: The Virtual Workshop is composed of nine interactive lessons designed to help new small business owners learn their tax rights and responsibilities. The IRS Video Portal contains video and audio presentations on topics of interest to small businesses, individuals and tax professionals. Page Last Reviewed or Updated: 31-Oct-2013 Hope that you find the above enclosed information useful. 12/10/2013
Positive: 10 %

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