2007-09-05 12:56:51 · 5 answers · asked by shahriar a 2 in Business & Finance ➔ Taxes ➔ United States
You are self-employed. That means that YOU are your employer. You'll report your income and allowable deductible expenses on a schedule C or C-EZ, and fill out a schedule SE to calculate self-employment tax (social security and medicare). The numbers from those will transfer to your 1040 form.
2007-09-05 13:25:58 · answer #1 · answered by Judy 7 · 1⤊ 0⤋
No, you don't need an employer. You use an extra form on your taxes to put in the income. I believe it's a Schedule H or a Schedule C. A copy goes with both your Federal and your State return.
2007-09-05 13:03:46 · answer #2 · answered by Elaine M 7 · 0⤊ 0⤋
If the tutoring income were your only income the limit would be $400 before reporting is required. However in you case any amount is required to be reported. You will use a Schedule C and may well have a loss.
2016-05-17 15:27:36 · answer #3 · answered by else 2 · 0⤊ 0⤋
You are self-employed. There is a separate form for that. Check the IRS web site.
2007-09-05 13:02:23 · answer #4 · answered by Gary 5 · 0⤊ 0⤋
I don't give advice on taxes, but the sites below are what you need. The last site is much more informative than the other two.
2007-09-05 13:03:55 · answer #5 · answered by Serena 7 · 0⤊ 2⤋