how to file taxs when your self employed?

Question

I was.. cleaning houses for a small company who didn't take taxes out of my check each week. She said I was 1099 ?? How do I file ?

Answer 1

You'd have to file Schedule C on your 1040. This is for self-employed people. Since you received a 1099, you were not considered an employee, and the company did not pay payroll taxes on your income. Therefore you are considered self-employed and are required to pay the taxes on this income, including 15.3% social security/medicare.

The good thing about Schedule C is that you may also deduct any expenses you paid out-of-pocket for this job, assuming you weren't reimbursed. For example, if you had to pay for your cleaning supplies this would be a valid expense. You may also deduct auto expense or travel expense, to deduct your costs of getting to the job.

Hope this helped.

Answer 2

i personally think that is the worst kind of way to be getting apid cause you have to pay the self-employment tax and the regular taxes. the semi-good thing is that you can write off all the things you spent on the job I HOPE YOU HAVE RECEIPTS in case you get audited. you can do clothes that you bought for work, supplies, even gas. But again you need proof of these places you went and miles drove ect. to write it off. You would be filing 1040, if you own a home a sch.A and the self employment. I recommend not taking jobs like that unless you go to a tax place and ask what you can write off so you can keep that proof.

Answer 3

1040 (long form) along with a Schedule C and Schedule SE.

Get the checkbook ready........