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Get your taxes done using TurboTax
As far as the IRS is concerned, you are self-employed. Doesn't matter if they call you an independent contractor or something else. Your income will be reported on 1099-MISC with the amount in box 7 of that form. So you will be filing SCH C - Business Income & Expenses as a part of your personal 1040 tax return. Note also that in addition to regular income tax you will also pay the additional 15.3% self-employment tax. That's basically the employer side of your social security and Medicare.
Depending on your income, it may also be necessary for your to pay quarterly taxes to the IRS, and if your state taxes personal income, you may need to pay quarterly taxes to your state too.
‎June 4, 2019
11:09 PM
14,654 Views