1099 Question I started doing some indepenedent work for an internet company in November 2007. I earned about $1900 for November and December. The company told me that they will not be sending me a 1099 but gave me information through email to be able to do my taxes.
When I tried to use Turbo Tax, it says that I have to do a Schedule C and create a business. I don't have a business, I just have this side job through this internet company who did not provide me with actual tax forms.
So, aparently I have to pay federal tax, state tax (CA) and self-employment tax.
I am a homemaker and do not work outside the home. My husband had about $88,000 in taxable income last year. We file "married filing jointly". We have three children.
I have a couple of questions:
1) Do I have to actually do a Schedule C?
2) Am I better off filing taxes as "married filing jointly" or would we be better off to file separately?
3) Do I have to do quarterly estimated taxes for this side job? I make roughly $1,000 a month.
4) If I have to do quarterly estimated taxes, how do I do that?
Any informaiton and advice for this situation would be greatly appreciated. |