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Tax Returns

I have two jobs,one I do on a "contract bases" I come and go as I please which basically you could say I'm self employed its only one house 2-3 days a week at $10.00 an hour so I make maybe 400. a month 500 if I clean it 3 days a week. He doesnt take out taxes,but at the same time how can SS know that I worked at all in my lifetime if I can't report it. He says he gets a break in his taxes off his shop with me cleaning. Yet I feel like I'm missing out on some money I could be getting if I reported this income I do get. Also I'm filing my taxes married but filing seperate and it says I cant get the EIC from my kids if I file seperate. Why the IRS did this I will never know.. Should I report what I earn anyways? I guess you could say I"m a self employed person who gets [aid under the table or what?

Answer Question

Asked by Anonymous at 4:40 PM on Jan. 27, 2010 in Money & Work

Answers (3)
  • You need to report what you earn from contract labor on schedule C.

    Answer by Anonymous at 4:44 PM on Jan. 27, 2010

  • You can't get the EIC if you file sep. returns because it lowers your income so much everyone would do it so they could get the EIC. Part of being married is JOINING your income. You need some sort of 1099 or even just say self employed but I'm pretty sure you need a fed, tax ID to do that and that costs money itself. So if you file by yourself for being self employed and you can't claim the EIC cuz of the sep. married return YOU WILL OWE MONEY!!!!! Being self employed is expensive just think every dollar you pay in taxes your employer matches so when you are your own employer guess who pays that YOU DO. If your DH owes back support or student loans you can claim a injured spouse so your part of the return won't get recaputured it will just take longer to get back because you have to send in paper forms you can't e-file that way. Hope all this info helped

    Answer by Fordmomma at 4:54 PM on Jan. 27, 2010

  • As in independent contractor, you should be filing quarterly tax estimates. You are responsible for paying both the employer's share of taxes and the employee's share (including social security). I strongly recommend making an appointment with your local IRS office.

    Answer by rkoloms at 7:02 PM on Jan. 27, 2010

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