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If I get paid $8900 a month (check in my name) but have to pay an independent contractor $4700 out of it, am I responsible for paying taxes on $8900 or just what I gross?
I am a self employed hiring an independent contractor to come in monthly for floor, carpet, window, pressure washing work. I get paid a total of $8900 but I am paying the independent contractor $4700 out of it. My question is would I take taxes out of the whole $8900 before paying the independent contractor or would I only take taxes out of what I personally grossed out of it, which would be $4200. Then at the end of the year 1099 Misc the independent contractor for what he has made so I would not be responsible for "his share" of the money.
May 31, 2019
10:47 PM