Independent contractor 1099-MISC taxation?
Posted in the Newport News Forum
#1 Dec 8, 2013
Independent contractor 1099-MISC taxation?I am a tutor, and my employer gave me a 1099-misc showing $1100 (non-employee) in wages as an independent contractor, which I am fairly sure I'm not and he probably lists me as such so he doesn't have to match the taxes I pay. My parents have some investments under my name, in which I made more than $5000. I am attending university, so any taxes under $3000 are covered by education credit. Taxes on investment income were far less than $3000, but tax software says I owe roughly $200 in taxes on the 1099 income.$200 tax on $1100 is rough.
1. If he had given me a W2, I would be tax free, right?
2. He told me I would not have to pay taxes if I made less than $5000. Is this correct? I thought all independent contractors had to report anything over $400. Say I only made the $1100 with no investment income. Would I not have to pay taxes because the standard deduction covers everything?
Is any 1099 income taxed above $400, regardless of other income, because no taxes have been taken out?
#2 Dec 8, 2013
This site can help you finding the best option for you:@www.credit-solutions.info
Add your comments below
|Barack Obama, our next President (Nov '08)||5 min||Julia||1,640,357|
|I remember in Newport News (Dec '07)||5 hr||Patricia g Johnson||2,393|
|Once slow-moving threat, global warming speeds ... (Dec '08)||13 hr||Patriot AKA Bozo||64,108|
|I remember in Hampton (Jan '08)||Fri||Harleyuki||873|
|Williamsburg police increasing crosswalk patrols (Nov '08)||Nov 11||Martin garey||6|
|love (Nov '09)||Nov 11||Martin garey||6|
|Brazil Carnival queen who broke nudity rule wil... (Feb '09)||Nov 11||WNC||9|
Find what you want!
Search Newport News Forum Now
Copyright © 2017 Topix LLC