I was wondering which is the best turbo tax product for that. If you are self-employed you can either use TurboTax Premier online or TurboTax Home and Business desktop
I create the 1099 myself . You would only create a 1099 if you are paying someone else from your business. So, if you are the top caddy and you sub other people to caddy for some of your clients when you are overbooked, then you would issue a 1099-NEC to them. You would not issue one to yourself.
and am wondering if self employment tax is calculated on gross income or gross income less self employment heath insurance deduction being I pay 100% of my premiums Self employment tax is calculated on Net profit after all expenses including health insurance.
I ask only bc that line was blank on my return last year. Also as a golf caddy should i be paying self employment tax? Yes, you should be paying quarterly self-employment taxes based on your income each quarter.
The Self-Employment Tax
IRS Self-Employment Tax
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