1099 tax help?

Question

Can anyone tell me how I can get around filing a 1099 misc form? Is there anything else I can file as a contractor?

Answer 1

If you got a 1099-misc, then the IRS got a copy of it too, so they already know about it - if you don't show it on your tax return, they'll notify you that you didn't and tell you how much additional tax you owe, plus interest and penalties. If the income on the 1099-MISC is shown as non-employee compensation, it's subject to self-employment tax.

Whether you receive a 1099 or not, if you have self-employment income you file it on a schedule C or C-EZ, and use a schedule SE to calculate your self-employment tax.

Answer 2

You don't file a 1099, you get one. Its purpose is to tell you how much money they claim to have paid you (so you can verify it against your records) and to put you on notice that the IRS has been given the same information.

Whether you receive a 1099 or not, you still have to file your tax return. File Schedule C or C-EZ to claim the income and any business expenses. File Schedule SE to calculate the Self-Employment tax.

Since you are not subject to withholding you must make quarterly estimated tax payments using Form 1040ES if your total estimated tax liability for the year will exceed $1,000.

Answer 3

You need to report your income on Schedule C, this form will be attached to your 1040. Make sure you have legitimate expenses to lower your tax liability.

Answer 4

cellphone, uniforms, gas, home office space, tuition for classes related to your business, cost of tools, hotel if you go out of town. That's the ones I used.