Voting Question: End First Job and Unsure About Taxes Independent Contractor Student?

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  • Voting Question: End First Job and Unsure About Taxes Independent Contractor Student?


Answer #1 | 16/12 2013 09:26
I hope you kept track of your mileage because that is going to be your major expenses. Use Form 1040 Schedule C-EZ to show your gross income minus your expenses then Schedule SE to calculate Self-Employment tax.
Answer #2 | 16/12 2013 09:40
1040, schedules C and SE.
Answer #3 | 16/12 2013 12:12
First of all, I hope you kept good records, not just of your income but also any expenses, including your mileage. Good records will probably help you pay less tax. You didn't make enough to owe any federal income tax, but since you were an independent contractor, you'll owe self employment tax, for social security and medicare. That will be around $720. Use form 1040, schedule C, and schedule SE to file. I can't help re California tax.
Answer #4 | 16/12 2013 12:45
this will be reported on Sch C and SE with your 1040 you can free efile at and Calif. will probably have their site up as well, if you can follow directions you should be able to use these sites they will not be ready until late Jan. possibly early Feb
Answer #5 | 16/12 2013 17:50
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.,-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. 12/16/2013

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