Q. Also, if they file as self-employment, is it ok they don't have W2 or 1099?
A. Yes. The self employed need no tax forms to file.
Q. Do i need to half of SS tax and medicare tax? or they can pay 15% in schedule C without involving me?
A. They pay the whole 15.3%. It works out to 14.1% when TT gets done with the calculations.
Q. Do they have to register a company in order to file self-employment? Or they could file without a company?
A. No. The forms prepared by TT, and filed with their tax return are the only paper work needed; Schedule C and Schedule SE
