Turin39789
Lifer
- Nov 21, 2000
- 12,218
- 8
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Originally posted by: EagleKeeper
Originally posted by: Turin39789
I filed in early February , then received a 1099 for some work I did at a catering company ($635) - they shoulda paid me 36 less). I think I have 1040x ready to go through turbotax. I just wanted to make sure that I added the 1099 in right and that I should be paying self employment tax. I basically worked 3 jobs doing food prep and cleanup for some extra cash.
Does my 1040x need to be postmarked tonight?
1) You do not need to file the 1040X by tonight.
2) Seeing how as you received a 1099 - I would hope that you have now started a Schedule C and also looked through the tax threads to see how to reduce the tax bite by entering any type of related expenses on the Schedule C to lower the overall income.
There are costs incurred to get to the job, special equipment for the job required for safety and cleanup, costs incurred in obtaining the job (communication, smoozing) and costs incurred in asking questinos on how to handle the extra income for tax purposes.
If you squeeze hard enough, you should be able to reduce the extra tax bite considerably.
Thanks, I so far just have my mileage(around 200 miles - drove to an even out of town) but I'll try to scroung up some more to get under the $400 for self employment tax. When it asks for business name, business address, should I put in the caterers address on the 1099 or my house address? Also I currently have checked"I use my name as the name of my business, should that be changed to "my business address is the same as my home address? cash method is checked, and i was active in the operation of the business.
Turbotax put it on a schedule c ez, with the auto under section 3. should this be moved to the misc expenses under business travel?