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Old 04-16-2012, 09:15 PM
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Exclamation 1099-MISC after Filing - Need CA Tax Help

CA State Tax Question
I filed, and then I got a 1099-MISC 4 days before taxes are due.
No CA state tax was withheld on the $2184 of Non-Employee Compensation income (even though I was their employee and used their equipment to set up their photo booths for their events) but my total income $1155 on W-2 from another company + the 1099 income is still under the Standard Deduction amount of $3769 for CA Residents (even those still claimed on their parents’ taxes) so the Tax Program says I don’t owe anything. I want to pay any taxes my Employer should have taken out, but how?



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Old 04-26-2012, 09:44 PM
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“so the Tax Program says I don’t owe anything. I want to pay any taxes my Employer should have taken out, but how?”--->ON your self employment income of $2184, as long as you are an IC or self employer, then you need to file Sch C of 1040 as long as the amount on line 29/31 is $400 or exceeds $400 or need to pay self employment axes as long as the amount on Sch SE line 4 is ALSO $400 or exceeds $400. Self-employment tax is a tax consisting of Social Security and Medicare taxes primarily for individuals who work for themselves. It is similar to the Social Security and Medicare taxes withheld from the pay of most wage earners. The 2010 Tax Relief Act reduced the self-employment tax by 2% for self-employment income earned in calendar year 2011. The self-employment tax rate for self-employment income earned in calendar year 2011 is 13.3% (10.4% for Social Security and 2.9% for Medicare). The Temporary Payroll Tax Cut Continuation Act of 2011 extended the self-employment tax reduction of 2% for calendar year 2012 so the rates for 2011 remain in effect for 2012. For self-employment income earned in 2010, the self-employment tax rate is 15.3%. The rate consists of two parts: 12.4% for social security (old-age, survivors, and disability insurance) and 2.9% for Medicare (hospital insurance).ALSO, If you are filing as a sole proprietor and/or a self-employed individual, you generally have to make estimated tax payments if you expect to owe tax of $1,000 or more when you file your return.HOWEVER, You do not have to pay estimated tax for the current year if you had no tax liability for the prior year ;you were a U.S. citizen or resident for the whole year ;your prior tax year covered a 12 month period. UNLESS you are an ICor aa self employer, you need to report your income on 1099 on 1040 line 21 as other income, en, you do not need to pay SECA taxes/ quarterly estimated taxes.



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