Monday, November 16, 2009

Self employed?

i braid hair i would like to know where can i get the tax form 1099



Self employed?

If you work for a company and they are the ones who pay you, then they are supposed to give you a 1099 showing how much they paid you. If the individual people pay you, then you wouldn't get one.



In any case, you don't need a 1099 to file your taxes. You are required to keep records of what you're paid, and you can file your return from your own records.



You'd report the income and any associated allowable expenses on a schedule C or C-EZ, and also fill out a schedule SE to calculate your self-employment tax (social security and medicare). The numbers from the bottom of the two schedules will transfer to your form 1040.



Self employed?

IRS website should have information regarding this.



Also, if you bring in alot of business, you should consider getting incorporated. The tax benefits can be big.

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