eTax.com How To File Self Employed Taxes

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Independent contractors who receive a 1099-MISC form to file their taxes usually have to fill out a Schedule C, which calculates the earned income and any expenses that can be deducted. In addition to a Schedule C, contractors will have to file a Schedule SE, which will tally the amount owed for Medicare and Social Security deductions.
Even if you did not recive 1099-MISC, you are required to report the income. Often, people think if they make less than $600, they don’t have to report their income, however that is not the case.
Reporting 1099-MISC doesn’t have to be a difficult process. A tax preparation program can help make filing your taxes relatively simple. It’s important to focus on maximizing your benefits, as independent contractors often have quite a few available to them.