smcknight
Employee Tax Expert

Get your taxes done using TurboTax

Receiving a 1099 in most instances means you are self employed or contracted to work with a company. Most companies that have contractors will not withhold taxes based on a form W-4.

 

In your situation you would need to pay estimated taxes on your projected income if form W-4 isn't an option.  You may use the W-4 calculator tool to calculate potential taxes based on your projected total income. Keep in mind, you will also be required to pay social security and Medicare taxes.  Here are some links that will assist you in calculating the required information:

https://turbotax.intuit.com/tax-tools/calculators/w4/

https://www.irs.gov/taxtopics/tc554

https://www.irs.gov/businesses/small-businesses-self-employed/self-employed-individuals-tax-center

 

Thank you for joining us today and have a great rest of your day!
SMcKnight, EA

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