I work for postmate full time as an independent contractor until I find another job. I have 2 kids whom I claim every year. Will I owe the IRS $ at the end of the year?

[dnamom24]

I’ve made over $600 so I know I have to file but I definitely haven’t made over what I need to survive day to day as I am still struggling. 

[Hal_Al]

You will not owe the IRS, as your refundable credits will more than offset your taxes. The IRS will, most likely, be sending you money.

You will receive a form 1099-Misc, from Postmates (the $600 rule). The IRS considers anything in box 7 of 1099-MISC to be self employment income. Enter the 1099-Misc income, at Other Common income / income from a 1099-MISC . TurboTax (TT) will complete Schedule C or C-EZ for you and allow you to deduct any expenses associated with this income. You'll also have to pay self employment tax (social security & Medicare) on any profits greater than $400.

Your mileage is deductible at 53.5 cents per mile, as expenses to reduce the taxable income. 

Your net income is earned income for the Earned Income Credit and Additional Child Tax Credit (the "refundable" tax credits)

[Critter]

If your net income after expenses exceeds about $17K then you may not have enough credits to offset the taxes so you may owe.

[Hal_Al]

Poster states he/she has 2 kids

[Critter]

Sorry ... the tipping point is closer to $27K in that case.

[expresshocky]

what is Postmates EIN# i cant find my tax form or their EIN number for my 1099 misc form

[Critter]

If you don't have the 1099 form then skip that screen and enter all your income under the "other/additional/general income" section.

[Chrissy121001]

Well i dont think uou will owe nothing.... Besides that i know you can apply for unemployment withe cares act. Make sure you do you will get. Something and it dont matter if uworked much at all. Trump passed it for all gig feelance partime and self employed people who arent usually going to get approved... Its whatever amount your state gives you plus extra 600 on top until the end of july.... So you will ger whatevervthey calculate plus 600 weekly. You should def get it... Good luck...

[Chrissy121001]

Postmates is a regular job. Now you can collect unemployment from them even without this pandemic. There was a lawsuit over how they tell you where you can deliver depending on your location, they choose what customers to give you and also gives you a time limit. On how long you have to deliver thebitems to the customer.... Look it up.

[Joshuagauthier333]

I have no idea where to file quarterly taxes as I've  Only worked for post mates for a week and only made $40. I'm not sure how much it's going to cost me to file or when or where to file..

[xmasbaby0]

@Joshuagauthier333 

If you have only made $40 so far you have no need to worry about filing quarterly taxes.  You are, however, working as an independent contractor, and at tax time you will need to enter the amount you earned from that work on your 2020 tax return.  By the end of the year, you may have earned enough to be required to pay self-employment tax for Social Security and Medicare, since that is not withheld from your pay by an employer.

You will be able to use one of the free sites to file such as Free File, so it will not cost you anything to file your tax return unless you have so much other income from some other job that it exceeds the income limit to use the free software.  So save this information to use when it is time to prepare your 2020 return next year in 2021:

If you qualify to use it, there is another full-featured free version of the software:

Try Free File: 

You qualify if your income was $36,000 or less, or $69,000 or less if active duty military, or if you qualify for Earned Income Credit

https://ttlc.intuit.com/questions/1900583-what-is-turbotax-free-file-program

• https://ttlc.intuit.com/questions/2026912-how-do-i-switch-to-turbotax-free-file-program

Or—-Use this IRS site for other ways to file for free

https://apps.irs.gov/app/freeFile/

https://ttlc.intuit.com/questions/2926899-how-does-my-side-job-affect-my-taxes

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

https://ttlc.intuit.com/questions/2584365-am-i-an-employee-or-an-independent-contractor

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

https://ttlc.intuit.com/questions/2903027-how-do-i-report-income-from-self-employment

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

[Joshuagauthier333]

Thank you so much for the useful informstion. You have no idea how much you help me.