I am not firmilar with the 1099, We have just moved to a diffrent state and my fiance was having a hard time finding a job and the only job that he found was paying a 1099. How can we go about paying our tax money so well get money back at the end of the year? If nots even possiable. HELP. I tried looking up information on line but most of it was giving me the 1099 forms from turbo tax. I really dont want to have to pay the taxes at the end of the year as it is nice to get a big check.. If any one knows anything about this please tell me anything you might know.. Thank youAnswer Question
Asked by Anonymous at 11:16 AM on Mar. 15, 2010 in Money & Work
Answer by rochellecole at 11:21 AM on Mar. 15, 2010
With a 1099 you get screwed. First of all you better make damn sure that he is indeed an independent contractor and that who ever is paying him is not just doing it to get out of paying taxes. To be considered an independent contractor he has to be able to pick his own jobs (have more than one client), hours, and use his own supplies. You can check out the IRS info for the exact qualifications. Then you have to pay for your own taxes on it. And that adds up fast. If you get caught getting a 1099 and your not a IC then both you and your employer will be in IRS hell.
Answer by Anonymous at 11:28 AM on Mar. 15, 2010
Answer by Anonymous at 11:31 AM on Mar. 15, 2010
Answer by Anonymous at 11:49 AM on Mar. 15, 2010
Answer by Anonymous at 11:50 AM on Mar. 15, 2010
Answer by halfpint_ny at 8:37 PM on Mar. 15, 2010
Answer by rkoloms at 5:51 PM on Mar. 16, 2010
Next question overall
(Just for Fun)
In the song Yankee Doodle, is he calling the pony or the feather...