only made around $3000 on a 1099 in 2005 and have $2500 in student loan int. + med and bus costs. file? Sorry?
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.
137920
They dont really have to send you a 1099 unless they paid you $600 or more.  You could put it on line 21 as other income.  But, the best thing to do is probably to put it on a Schedule C so you can deduct any out of pocket expenses you had associated with that income.  If you put it on Schedule C though you will have to pay Self Employment tax  of 15.3 percemt because you made over $400
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?
682452
Contact your local tax office to find out exact procedures.\n\nAlso if you have student loan repayments you will have to contact them too.
608383
If you could provide a little additional information, that would help.  What kinds of student loans do you have?  Have they been consolidated? Are you a teacher?\n\nIf the loan is private, there isn't much that you can do to lower your rate -- most private loan rates are variable meaning that they change with the market and, sometimes, with your credit.  \n\nIf your loans are federal I have to ask: Are you sure the rate is 8.5%??  Federal Stafford loan interest rates have been capped at 8.25% for years.  And the only way your rate would be FIXED that high there would be if you had consolidated when rates were at an all-time high (the last time rates were that high was in 1999).  \n\nIf you haven't consolidated yet, consider doing it right away -- it's the easiest and safest way to (1) lower your monthly payments and (2) lock in a low interest rate while still maintaining the protection of the Federal student loan programs (just make sure you apply for a *Federal* Consolidation Loan).  When you consolidate, any eligible, Federal student loans that you have will be lumped into one new loan, your rate will be fixed at today's rate (5.3% if you're consolidating only Stafford loans) and your repayment term will be extended out beyond the standard 10-year repayment term (for a loan of $46,000, you will probably receive 25 years to repay). Extending your repayment term will mean that your monthly payment will be lowered (often significantly).\n\nIf you have consolidated, the only way that you can re-consolidate is if you...\n\n(1) borrow a *new* Federal student loan (probably not a wise decision, financially, as it wouldn't change your overall rate much)\n\n(2) if you "have been unable to obtain a Federal Consolidation Loan with income-sensitive repayment terms acceptable to [you]," you can obtain a Direct Consolidation Loan, which is the other type of student loan consolidation that the federal government offers. \n\nThis might be your best option. Just make sure that your current loan is a Federal Consolidation Loan (if it's already a Direct Consolidation Loan, you're out of luck). If it is, check the Dept. of Ed's website to see if you are eligible: http://loanconsolidation.ed.gov/borrower/beligible.shtml . There's no credit check on these loans, so it can't hurt to try!\n\nThere are private companies out there that claim to be able to "reconsolidate" any federal consolidation loan. These companies are SO disreputable that I hesitate to even mention them. DON'T DO IT. They're in business only to make money off of you. Many of them don't even deal in Federal Consolidation Loans, so you could end up with a "reconsolidated" private loan with horrible terms and none of the benefits and security of the Federal student loan that you started with.\n\nFinally, about student loan forgiveness: loan forgiveness is almost always not an option for someone who has consolidated, so you will need to make the choice between Loan Consolidation and Loan Forgiveness.  Before deciding, keep in mind two things: \n(1) interest rates are on the RISE and scheduled to rise to 6.8% in July, so if you want to consolidate, you should do it before July 1\n(2) Forgiveness (a.k.a. "cancellation") of Stafford loans is rare unless you are a teacher in a low-income area.  To see if you qualify for teacher forgiveness, read this site carefully:\nhttp://studentaid.ed.gov/PORTALSWebApp/students/english/teachercancel.jsp?tab=repaying\n\nBy all means, if you qualify, go for it!
38070
That is a good letter but I would also speak with the bank. They might waive the fees if you sound sad enough. Speak with your payroll department at your job in person as well.
560384
My tuition will run about $3000 a year including books and classes, fees etc. I own my home so I can't count room and board. I get no financial aid, it is all paid with my paychecks.
73443
That 1 answer was funny. But anyway\nFor whatever reason you filed BR maybe you were helping your sick mother or your e-wife left you for your best friend and she took everything or the company you worked for took your 401k and fired you without telling you what was going to happen. I had to say that Some people do have Reasons and good ones for BR. I could go into welfare and Vets but I wont But your answer is\nIt depends on how much interest you wanna pay.\nThe best thing to do is get your credit back up to a good standing. Get Creditcards  pay them on time and make double the payment. after a few years you can get a better loan on a car.\nYou could go to a but here pay here place but the interest is high there too. Soo\nIts up to you But remember it seems like your asking because you filed and you are getting alot of mail on this new car deals ect. \nRemember it seems easy to get a car or CC after you file this is cause they know they got you. You cant file again they can tack you down and take your pay check your tax return ect. So before you buy make sure you can pay it off. as for the time. It all depends on the interest 21% on a 21000.00 car is alot. build your credit up first before you pay 45000.00 for a 21000.00 car
724145
If you have a choice, you should request being "w2'd".  Filing a 1099 means you must pay both the employer and employee portion of FICA and Medicare.  Of course, there shouldn't really be a choice, either you're an employee or you're an independent contractor.  As an independent contractor, if you travel (not commute) for your job you can deduct auto expenses.  If you use a portion of your house for the business, you can deduct home office expense, however, that's a little tricky and can sometimes trigger an IRS audit, so make sure it's done right.  Keep receipts for any expenses you have related to your income - supplies, etc.  You sound like you could use a professional tax preparer.
729602
call the IRS, but i think it is 1099
320104
Will your future earnings be enough to replace the funds, as well as any interest they would have netted you?  If you are talking about 2 years of school, then another 3 years to pay it back, you are loosing 5 years worth of interest.  \n\nIt should be a simple matter to do the math and figure out if you can come out ahead in the long run.
283742
Depends on your circumstance.  Please read the link below to see how you apply to the 1099 and whether or not you need to file.
228635
There are tax law changes every year. If I were you I would look at last years taxes and this years taxes and see what is so different. Last year you might have been at the very end of one tax bracket and this year your income might have pushed you into a different bracket. If you had them done by someone most places will give you a comparison. If they did it will show you where it changed form last year you this year. If you cant find it there then I would start looking for errors. If you find some correct it with a 1040X. Good luck
116515
As long as you worked in a state, you're required to pay taxes on the income you earned in that state for the part of the year in which you worked there.  As far as how much taxes you may pay, it depends on whether there were any taxes withheld by the firm for which you worked (which would be reported on the 1099.)  \n\nUnder the circumstances, it might make sense for you to invest in tax preparation software this year to prepare all the returns - it will help you get organized, and save you a great deal of time preparing the returns.
232425
If you are talking about the milage it takes for you to commute back and forth to you job, you cannot deduct the milage.  If you have to do that traveling in the course of your employment, and you're not reimbursed by your employer, then it can be deducted.\n\n(Maybe the accounting student should study more)
1101750
You're not in trouble, per se, because you have 3 years to file a return in order to get a refund (if due).  But what happens when you don't file a return is that IRS files a Substitute 1040 for you, and then they add penalties and interest to it, and the interest is accumulative, so you're much better off filing it now to eliminate owing them any more than you may already owe.  If you owe and can't pay, they will work out a payment plan with you, and you should take their offer, because the interest they charge is much less than paying it with a credit card.  And you don't need to hire someone to file the return for you; just go to irs.gov, find the form, fill it out and mail it in.
699399
I'm only 22 and I can see your being wasteful. Should take that money and save it and put it on a down payment for a house. Then when you have that house paid off buy your car. Maybe take that money and start paying student loans off or pay for more schooling...unless you got a free ride.  \n\nDue to the fact you have no real job. I'm guessing you're not going to get many banks to finance you, unless you have a co-signer.  Even if you do get a co-signer you're only 20 and high risk. You'll have to get a loan for 9,000 and all the other taxes that come along...maybe warranty. They'll bring it to about 11,000...you'll be paying about 300-350 a month. But remember you'll pay interest first, and no principle.  Depending on 3 or 5 year loan. Now you have to remember about car insurance.  Since a bank is financing it you'll have to get Full liability coverage. That will hike up your payments to the roof. Hopefully you have been a good driver and have a bunch of discounts. If not, you'll eat up every bit of your monthly wage for this car.  Forget eating, and gas.  You'll probably go back to begging parents for Ramen soup money. Ha ha, sorry man like I said I'm 22, been there 2 years ago. Thankfully I didn't go thru with it.