Independent Contrator and 1099 I started working for an internet company doing quality control type of work. I started in November 2007. I earned about $1970 for 2007.
I was just informed that they will not be sending me a 1099 like they said they were going to. They said to just look at my earnings and claim taxes that way.
I tried to use Turbo Tax and it said I had to file a Schedule C, pay federal income tax, state income tax (CA), and self employment tax.
My husband and I file as married filing jointly. We have three children. I am a homemaker and my husband had about $88,000 in taxable income for 2007.
When I reserached this issue, I saw that I may also have to do quarterly estimated taxes on this income (I will be making approximately $1,000 per month).
I have several questions.
1) Do I have to file a Schedule C (I do not have a business, so I don't know how I should fill this out)?
2) I have been told that the income is too low for federal and state taxes on my own. Would we be better off to file married filing separately, or should we still file married filing jointly?
3) Do I have to do estimated quarterly taxes? If so, how do I do it?
Any and all information regarding this issue would be GREATLY appreciated. |