I'm a college student who works parttime cleaning an office and in retail,and I recently recieved a 1099-Misc.
85252
When they give you a 1099, you're an independent contractor, not an employee and they dont take anything out for federal or state taxes.  You also have to pay your own FICA (medicare and social security) which is self employment tax.   When you get a w-2 like at your  retail job they take out for medicare and social security, 7.65 percent.  The employer matches that.  When you get paid with a 1099 you have to pay all of it, 15.3 percent.
17544
IC all the way. Unless your contract/application was processed through the HR Dept. of the company and they "Welcomed" you to the company as a "Direct" hire then you are a Contract (1099) employee. The only reason you went through training and instructional programs was to familiarize you with their goals and wants. What would you do if it were your company???  \n\nWhen your boss did not withold any taxes throughout the year it should have been an awakening.  You should have witheld your own taxes. Simply because you were negligent...don't be stupid. You got bucks and need to pay some sort of bucks for taxes. Unfortunately I fell into this mess years ago.  I got smart and made a lot of money being a 1099er. Learn the rules and play the game .... take them to the cleaners. Good luck! And I really mean this!!!
120957
It just depend what type of 1099 you have. If you worked them you need to do a schedule c and schedule se if you have a gain on your job. If its a pension or a 401k that you took out early you have to figure the additional tax on the plan, which is 10 percent of what you took out.
47107
If you have a 1099, than you need to file a Federal form 1040 with a Sched C, and likely a Sched. SE as well as any other forms you need. If you look at the Sched C you'll see most of the things you can use to reduce your income already listed. Mileage, and depreciation are very tricky so you'll want to ask for help, most likely.  \nNote* Don't mix up your supplies with your assets!
337515
During tax time, you can usually find them at any Office supply store. I know Office Depot carries them, but if you just need one, call an accountant, they usually have them laying around or will charge you a small fee to fill it out for you.  There are 2 parts, the part you give to the employee(1099) and the part you have to send to the IRS, telling them you gave your employee a 1099.  I would call around to an accountant, eapecially if you've mever done it before, if you make a mistake filling out, it can ba a big hassel to correct it witht the IRS.  Yours might be simple, see if the assistant at the accounting office can show you, they may be halpful,  if you are paying for a form.  Accountants also, have forms like that on disk, they pay big moeny for that, so don't be mad if they charge you $14.00 for it, anything over that might be rediculous, unless they are explaining the whole thing to you then you need to pay for their time.  In ending you may find them on the IRS web site.
93707
Yes, you have to file if you made more than $400 in self employment.  If you were paid on a 1099 as an independent contractor that would be considered self employment.  You have to pay self employment tax, which is social security and medicare, on your 1099 income.  File a 1040, and a schedule C for the 1099 income.  Self employment tax goes on Schedule SE.  Deduct the studnet loan interest on the 1040, line 33.
838335
If the IRS were to come after your employer, you would not be held responsible in any way. As long as you report the income you receive and pay taxes on the income at the end of the year, you are doing your part. I noticed that you just said your comission checks would be tax free. Are they withholding taxes from your regular paycheck? Alot of car dealers work this way too. They'll pay their salepeople a biweekly wage and their comission is straight cash. At the end of the year, they issue a 1099-misc reporting that income. You'll have to pay self employment tax at the end of the year
212717
You can use a 1040. What did you do for the 1099 income? you can take exp off on that . To take exp. you will need to use a schedule C or CEZ. Not sure of your situation.
228298
If you get pd on a 1099 you pay your own federal tax and self employment tax. If I were you I would think of the deductions you would be able to take. If there is not a bunch than I would get paid on a w2. I have done may peoples taxes that have not owed a tax but have had to pay in the self employment tax ( social security 6.2% and medicare 1.45% tax. It can really hurt you
988724
From the little bit of information you've provided, it is your personal income and you should pay taxes on it. \n\nAdditionally, if the supplier is going to issue a 1099, that would be because you are not a business. A 1099 would normally only be issued to an individual, or because a company does not provide appropriate Federal Tax ID information.\n\nBut to answer your question, about the only way to get the money out of the "business" without having to pay taxes on it would be as a re-payment of monies that you've loaned the "business"
945964
If you settled with the credit card company for a lower amount then what you owed they should send you a 1099C for the difference between what you owed and what you paid.  This amount is income and is included on Line 21, Form 1040.
973151
For tax reporting purposes this can be a large number of things.  Comission, rents, subcontract work.  If you earn this type of income you will most likely have to submit a 1099 and pay your own taxes on it at the end of the year as the payer will not deduct taxes from it.  For more info, check out the IRS site and look at info on Form 1099 or information returns.
263821
Tax wise it is better to go with an independent contractor. You do not have to pay their federal, state or local taxes you could pay them on a 1099 and they would be responsible for the taxes. Also you might get a discount on workers' compensation insurance since it is one less "employee" There are tax rules on who is considered an independent contractor like control of job and ownership of tools. Make sure you are compliant with those rules.
137510
I had the same problem. You can print it out at 1098T.com.
152236
Usually you don't get a 1099 from an employer, but rather from an investment company that holds paper for you (maybe you have a 401 K that they manage for you?).  Are you asking about a W-2?
99770
You don't need it.  Just claim the income on your 1040 and attach a signed note stating the business name, the amount, address of the business, and who was your contact there.  State that to your knowledge the business failed and you did not receive a 1099.  As long as you are honest and pay the required tax, that is all you are required to do.
230826
Ask your current employer or the HR department to look at your hire date. You should have paid taxes in from the moment you started getting paid as a regular employee. If you were hired as contract labor and received a 1099 then you never paid any taxes at that time.