2007-10-22 06:39:33 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Yes. You can take in as many different incomes as you want to.
2007-10-22 06:42:17 · answer #1 · answered by Stuart 7 · 1⤊ 0⤋
You are never a 1099 employee. You are self employed or an employee who should get a W-2 and I'm wondering if you understand the difference.
Every day there are one or two or more clueless people who don't understand the difference and I have a canned answer for them. If you are one of them, please don't take offense but get your situation cleaned up before you find yourself facing a hefty tax bill you can't pay.
Some employers try to get around paying employment taxes (social security and unemployment) and other employee benefits like workers compensation insurance by improperly classifying employees as independent contractors. If you are required to show up for work--personally--at a particular time, punch the clock, use the employers equipment and are paid an hourly rate, you are an employee. If you didn't understand the difference when you posed your question, I would be even more convinced that you are an employee. What is your preference, Slotted or Phillips? Complete an IRS Form SS-8 to get an official ruling on your status. This will help you get unemployment if you get fired.
2007-10-22 07:07:14 · answer #2 · answered by Anonymous · 2⤊ 0⤋
If you are yourself a 1099 employee, which means independent contractor or self-employed person, yes you can employ independent contractors for that work. On schedule C (Form 1040), this will be your expense deduction.
For this you don't have to be a LLC. For federal tax purposes, as LLC is a disregarded entity. That is if you are a sole proprietor of a LLC, you file schedule C.
2007-10-22 23:14:50 · answer #3 · answered by MukatA 6 · 0⤊ 0⤋
Sure, why not. You don't need an LLC.
2007-10-22 06:42:42 · answer #4 · answered by Judy 7 · 1⤊ 0⤋