2007-02-05 06:48:21 · 4 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
You have to pay tax on any income that you make beyond the threshold. A 1099 is just a reporting form from the IRS that is used by contractor/or service user to report their subs or service providers income, so they can write it off as a business expense. Withholding is only made if you were subject to backup withholding and they knew about it. They would have sent you a W-9 to fill out, first, when you started work for them. Of course this answer assumes a lot but your question didn't provide much detail.
2007-02-05 07:01:52 · answer #1 · answered by MJ 4 · 0⤊ 0⤋
$600 that the number
2007-02-05 08:11:00 · answer #2 · answered by knowitall 1 · 0⤊ 0⤋
I believe it's $600.00 but check with a financial adviser or a tax preparation company.
2007-02-05 07:04:13 · answer #3 · answered by Me, Myself & I 4 · 0⤊ 0⤋
$599.99 Once you hit $600 you're gonna have to pay tax.
2007-02-09 06:27:08 · answer #4 · answered by jakacic2001 2 · 0⤊ 0⤋