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04-21-2009, 12:49 PM
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#31 | |
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Resident Droog
Join Date: Mar 2008
Location: Northern burbs, Atlanta
Moto: 625 SMC, '08 Tuono R
Posts: 471
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__________________
I'm sick and tired of being bored. |
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04-21-2009, 12:54 PM
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#32 | |
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Custom User Title
 
Join Date: Nov 2008
Location: Central NY
Moto: 2003 SV650S
Posts: 14,959
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Quote:
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I'm not "fat." I'm "Enlarged to show texture." Handle every stressful situation like a DOG: If you can't eat it or hump it, pi$$ on it & walk away. |
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04-22-2009, 04:32 PM
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#33 | |
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Community Curmudgeon
Join Date: Nov 2008
Location: Tallahassee
Moto: '04 F4i
Posts: 373
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Check the 1099-misc your side job pays you. If the income is listed in Box 3, you can claim it on line 21 of your 1040 as other Income and will only be liable for income taxes. If the Income is listed in Box 7 It will be taxed as Income and will be taxed for self-employment taxes and must be reported on Schedule C. The self-employment tax rate is 15.3%. The rate consists of two parts: 12.4% for social security (old-age, survivors, and disability insurance) and 2.9% for Medicare (hospital insurance). You can deduct half of your SE tax in figuring your adjusted gross income. This deduction only affects your income tax. It does not affect either your net earnings from self-employment or your SE tax.
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Alcohol, Tobacco and Firearms should be a convenience store and not a government agency If You Don't Know What Your Rights are...You Won't Have Any |
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