Last year I didn't work I recieved my income doing clinical research studies.I did recieve a w2 form from a where I only made 3o usd. I made approximately 22000 usd from the researches and recieve a 1099miss form. I had a dependent and I was head of house hold. When preparing for my taxes I was shocked to see that because my income was mainly from so called miss income my refund was 12usd. But if i filed it under self employment income it was 2900. Is there any way I can use my income to help increase my refund

“When preparing for my taxes I was shocked to see that because my income was mainly from so called miss income my refund was 12usd. But if i filed it under self employment income it was 2900.”-----> The researchesl consider you as an indepednet contractor, NOT as a reg EE and as such they consider youself employed;1099MISc income is self employed income; th sefl employed iencome/income on Form 10099MISc line 7 are reoted omn Sch C of 1040/Sch SE as long as the amoun ton Sch C line 29/31 is $400 or exceeds $400. And as long as the amount r on Sch SE line 4 is $400 or exceeds $400, you MUST pay self employment taxes and also you need to pay quarterly estimated taxes on your 1099MISC income. A tax refund is the result of having taxes withheld (or paid as quarterly estimated taxes)on earnings that amount to more than a person owes in income taxes for a calendar year. Federal and state taxes are withheld at a specified amount each pay period, and when the year ends, each tax payer must file income taxes by submitting the proper filing forms. In many cases, people have paid more than they were required to pay. When the federal government or state treasurer receives the tax forms, they issue checks for overpayment.The income was earned, so therefore is subject to self employment tax. As far as the IRS is concerned, because it was reported on box 7 as non employee compensation, on 1099MISC you are self employed. One advantage to this is if you had any expenses (mileage, etc) associated with this income, then you can deduct it directly from the expenses. It's all dependent on how it is reported to the IRS. If a 1099-MISC shows with an amount in Box 7 Non employee compensation, then it is self employment income. If it is in Box 3 as Other Income, then it can go on line 21 as other income and not be subject to self employment tax.
“ Is there any way I can use my income to help increase my refund?”---->A tax refund should not be considered free money. If you do receive a large tax refund, you are essentially giving the government a tax-free loan.If you usually receive a large refund, it would be wise to look at your deductions you have marked on your W-4 with your employer IF you are an EE OR youneed to check your quarterly estimated tax amounts. If you change your deductions and have less deducted from each check you could either use that on other expenses throughout the year or save it and use it to buy something like you use your tax refund. You, as an IC, need to make sufficient estimated tax payments.This is because your estimated taxes from your employment may be sufficient to pay your federal income tax in full by the end of the year.What Imean is that as long as the amount on your 1040 line 72 is higher than that on line61, then you are subject to tax refund; you can use your own estimated tax projection; for example, assume that you are an I.C., which is your sole source of income. For the first six months of the year, you had $50,000 of self-employment income and $12,500 of business expenses, resulting in a net profit of $37,500. Then your business isn't very seasonal, so it would be a safe assumption that your net profit for the full year will be about $75,000;$37,500*2=$75,000. This income will be subject to both the regular income tax and the self-employment tax. So the tax calculations would work’d be; Self-employment tax ($75,000 x 0.9235 x 15.3%) = 10,597; Deduction for half of the self-employment tax = 5,299 on 1040 line27. Standard deduction for a single person = 5,700 for 2011
Personal exemption for herself = 3,650 for 2011, Taxable income (75,000 - 5,299 - 5,700 - 3,650) = 60,351. you'll calculate the income tax using the 2010 tax rates for this example. Your tax is estimated to be $9,946(as HOH). This plus yur self-employment tax of $10,597 equals how muchyou need to pay in this year: $20,543. In order to avoid the estimated tax penalty, you will need to pay in at least 90% of this amount. However, I typically recommend that you pay the full amount of the tax,$20,543, to prevent from owing at tax time. For you , you should be paying about $5,136;$20,543/4, quarterly to ensure that your taxes are fully paid.