Thank you so much for your reply. I have been working on W2 all these years and Contributing to Social security. I would like to continue to contribute (I am under the impression if I don't continue to contribute, my Social security benefit will be effected - please correct me if my assumption is wrong). Additionally, I would like to know if there are any taxes I need to pay?
My situation is like this (Numbers may vary in reality)
1099 Misc income - 100k
I want to pay my son who is helping me - 40k
I have office and other expenses - 10k
What is the best way to file the above?
