What forms do I have to fill out for taxes if I make over $600 doing surveys for 1 company?
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Question by Wonderer Mario Fan: What forms do I have to fill out for taxes if I make over 0 doing surveys for 1 company?
Hello there,
This is the first I have ever really had to think about taxes and never exactly expected to make over $ 600 with one company doing surveys online. I am within $ 140 of breaking over the tax limit and I believe I will get a 1099 form if/when I do.
I will probably just stop doing the surveys so I dont have to pay out taxes and such, but I might as well ask because it will happen eventually.
I googled around and ended up getting more confused than when I started. I seen we would be considered self employed and have to pay 15%. That is understandable, but than seen would have to file federal income tax, possibly state income tax, and pay into ssi and medicaid if make over $ 400 combined regardless?
What on earth? I am in NJ and would appreciate any information you can give on this situation. I don’t want to get thrown in federal prison for tax evasion down the line because I was unaware.
Thanks for any useful information you can give.
1099C I am aware of but what about federal and state income tax and paying into ssi that I seen?
I see you expanded what you said orginally about me being able to write it off. I do not have another job at this time. I in fact have yet to have a job in my life which is why I have these questions.
I guess I should really get in touch with H&R block about this. If I get sent the 1099 form do I just hold onto it until I have to file with the IRS? And again what of paying into SSI if you make over $ 400 period?
Thanks for the reply and any more info
Best answer:
Answer by sortaclarksville
Schedule C on your federal. Simple, easy form. Just keep up with your “expense” to use as deductions to get it back under $ 600 and you will not owe anything. Internet service can partly be written off since that is required for you to do the surveys. You can’t write off 100% of it because I’m sure that’s not the only time you use it, but…
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Can I deduct Federal taxes paid in 2007 on my state tax return?
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Question by ch5082: Can I deduct Federal taxes paid in 2007 on my state tax return?
I made a mistake on my 2005 Federal taxes and had to pay about $ 1000 in 2007 on that 2005 tax year. Pretty sure I can’t deduct that on my Federal return, but can I deduct it on my state return?
Best answer:
Answer by roox
state and federal are seperate
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What is the fastest and easyist way for me to do my taxes and my small business taxes online?
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as Business, easyist, fastest, Online, Small, Taxes
Question by Aaron: What is the fastest and easyist way for me to do my taxes and my small business taxes online?
I need to do my personal taxes, as well as my taxes for my small business taxes.
Note: Yes, I know I missed the Deadline.
Best answer:
Answer by DAN
get turbotax
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I filed a business license but never actually started the business. Do I need to file my business taxes?
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Question by jazcy: I filed a business license but never actually started the business. Do I need to file my business taxes?
Last summer I filed a business license but never actually started the business. Do I have to pay taxes; rather do I need to file my business taxes. At this time, I am unsure that I should even file my regular State/Fed taxes. Please help. Thanks J.
PS. I understand that you are not giving me legal advice but your opinion.
Best answer:
Answer by Nusha
No you do not need to file taxes. If you registered with the state or got a EIN from the IRS you may receive a lot of mail and forms to file. It is best to file these with zeros on the so they will leave you alone.
When you say “do you need to file business taxes” you are not clear what you mean by that. Did you form an LLC or corporation. If so, they you should see the comment above about returning forms with zero.
If your business is a sole proprietorship then you do not have to do anything on your 1040.
If you do start the business get some help from a CPA.
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What do we place taxes on if we ban cigarettes?
Question by Bella: What do we place taxes on if we ban cigarettes?
I’m doing an essay for school on the ban of cigarettes. I need some help finding articles discussing other things we could place taxes on in the place of the huge tax on cigarettes. We get so many tax dollars from cigarettes and spend it on nesscary things- where would we get this money from if not from the tax, and what exactly do we spend it on, anyway?
Lol.
Any helpful links or opinions?
I could really use links to site that contain information as to where exactly the cigarette tax goes- ex. what does it fund? who does it help?
Best answer:
Answer by Jen
we could always tax fast food. pretty much every one eats it, and it horrible for your heath in the long run, like smokes. but its socially acceptable to eat at places like McDonald’s, so that would never fly.
what the tax is spent on, is up to individual states. hear in Arizona, most of it goes to early childhood education and welfare programs, plus anti smoking crusades. very little of it goes into medicaid.
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Do i need to file Business Taxes?
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Question by Orange: Do i need to file Business Taxes?
I opened a Business Bank account last year, and got a Tax ID number with it. The bank account only help about $ 200 the entire time i had it, and i just closed it down recently.
Do i need to file Business taxes for this?
Best answer:
Answer by Zinger
Taxes are filed on your income.. did you have self employment income? 200 was your balance but were there deposits that totaled over 600 from self employment and were there expenses? Did you recieve a 1099 form?
You might want to get an irs publication for self employed check on irs.gov website. Otherwise here is article that may help if you should have received a 1099 but did not. it will be same principle if you received self employment income without any forms being received.
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Do I need to be worried about taxes as a small business owner?
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Question by Ashley S: Do I need to be worried about taxes as a small business owner?
I started my small business this year. It is a sole proprietorship and I am the only owner/employee. It is looking like I’m not even going to break even this year as far as profit vs. expenses go. Will I still owe taxes? I am so new to the tax situation for businesses that I’m clueless and hence a little worried.
Best answer:
Answer by Frank
When you file your taxes at the end of the year, you will fill in a schedule C, where you will list your business income and business expenses.
Your schedule C income will be the difference between the two, and you will add it to your personal income, which will increase the income tax you will owe. If it comes out negative, it will reduce your personal income and reduce the taxes you will owe.
The IRS has some tests to distinguish between a real busienss that lost money and a hobby. You can’t deduct the costs of a hobby (they don’t reduce your personal income). See my source for how the IRS distinguishes.
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What is the best way to learn how to do business taxes?
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Question by Domonique: What is the best way to learn how to do business taxes?
My husband and i have a business and i want to be more involved with the technical part since that is not his strength but it is mine, please let me know if you know of any good resorces that may be out there so i can learn to do our business taxes and personal ones too!
Best answer:
Answer by rottie_mama1969
Best way is to take a tax course either at your local college/boces program, or go to H&R block/Jackson Hewit ect.. and take their courses…
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What does this tax question mean? If you paid state & local income taxes in 2007 for a prior year?
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Question by Me: What does this tax question mean? If you paid state & local income taxes in 2007 for a prior year?
“If you paid state and local income taxes in 2007 for a prior year (such as taxes paid in 2007 as a balance due on your 2006 state income tax return), include this amount as other state and local income taxes paid.
Other state and local income taxes: $ ____”
While filing online, I got an alert here. I did not enter anything in. What exactly is the question asking?
Best answer:
Answer by v b
Does your state have an income tax?
Besides a W-2, did you write any other checks to the state?
Such as estimated tax payments?
Such as owing when you filed your taxes last year?
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What taxes go away with pre 2006 legal changes to the bankruptcy laws?
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Question by Matthew A: What taxes go away with pre 2006 legal changes to the bankruptcy laws?
My father had back taxes and files for bankruptcy in early 2006 now the federal government is comming after the back taxes. Does the bankruptcy take care of those taxes or is he still liable for them? (Lives in Kansas if this matters)
Best answer:
Answer by wartz
Income taxes on returns that the taxpayer filed that became due and owing over three years ago–for the most part 2003 and before–would be discharged except to the extent the attached to exempt or abandoned property. Withheld taxes are not discharged. What exactly did your father owe that he is now getting bills for?
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