1099 now?
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- freshdude
I've been doing some freelance work for a studio. things have gone alright, but slow. now they say i need to fill out a 1099.
Is this a bad sign in August? or is it just standard?
- 404NotFound0
You fill out a W9. You receive a 1099 for your taxes.
- vaxorcist0
be ready to pay a lot.... you may go quarterly if you want less of an April surprise too....
- 74LEO0
I think it is once you make so much like 1500.00 they need to cover there asses so they make you fill out the form and you are responsible for paying the taxes at the end of the year. Get ready to be bent over and unproperly fucked in April!
- Anything over $500Crack_Junkie
- It varies by state.d_rek
- 600freshdude
- Crack_Junkie0
It's August and you're about to get a 1099...holy hell are you going to get screwed. I hope you've been saving about 20% of every paycheck. :/
- d_rek0
All signs indicate a proper ass plugging. They should have had you fill out any tax-applicable documents up-front - not in august. I guess just be lucky they're not asking you to fill it out in december or january.
- ghandolf0
I don't think WHEN you are asked to fill it out matters at all, as long it's in the same tax calendar year. I've been freelancing for years, and sometimes I fill them out before I'm paid, and sometimes I'm asked later in the year. None of it made any difference to the tax I had to pay.
You just have to pay quarterly if you make your living by freelancing, or simply add them (1099's) to your W-2's, add up your income, (minus your expenses!), check tax tables, subtract what was withheld on W-2's, and/or payments made quarterly (by you), and pay the difference . Deduct any and ALL expenses you incurred during the course of that work - parking, 50% meals you paid for, mileage, software, etc... (See Schedule C form)
- <– Yup. But something tells me he's spent that cash already.Crack_Junkie
- That's an easy 'rookie' mistake to make - I did it too - once! ... and I suspect you're right.ghandolf