New 1099 Contractor / retiree

xxshawxx — Thu, 01 May 2025 14:58:25 GMT

As a new 1099 contractor am I taxed at the 15.3% self employed rate or at my current yearly W2 filing status rate 22% before I began 1099 work, or both together? I need to know so I can make quarterly payments.

Re: New 1099 Contractor / retiree

xmasbaby0 — Thu, 01 May 2025 14:51:26 GMT

Self-employment tax is in addition to ordinary income tax. When you are self-employed you pay self-employment tax for Social Security and Medicare, since that is not being withheld from your pay by an employer.

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/26653

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-self-employment-business-expenses-like-home/L1k6HJY4A_US_en_US?uid=m6jrthmp

If you live in a state with a state income tax, you might need to make estimated payments to your state.

https://turbotax.intuit.com/tax-tips/small-business-taxes/the-home-office-deduction/L1RZyYxzv

https://turbotax.intuit.com/tax-tools/calculators/self-employed/

https://ttlc.intuit.com/community/business-taxes/discussion/self-employed-don-t-miss-these-tax-moves/00/3400413

https://ttlc.intuit.com/turbotax-support/en-us/help-article/import-export-data-files/enter-schedule-c/L5Fz3j5us_US_en_US?uid=m6a6gknk

topic New 1099 Contractor / retiree in Self employed

New 1099 Contractor / retiree

Re: New 1099 Contractor / retiree