1099 meeda work chesina vallu randi

[TechSri]

1099 meeda work cheste. Taxes quarterly pay cheyala manam. Uear end ki tax form vastundi but monthly pay padutundi

[Guest]

5 hours ago, TechSri said:

1099 lo $5 ekkuva ista annadu. But it will be same with Taxes. Do we need to pay social security and medicare taxes every quarter instead of end of the year while filing taxes? Can’t we pay while filing taxes. 
do we need to pay federal taxes on 1099. 

Assuming you're self employed or a small business owner, You need to pay quarterly estimated taxes.

The IRS uses a couple of rules to determine if you need to make quarterly estimated tax payments:

• You expect to owe more than $1,000 after subtracting withholding and tax credits when filing your return, or
• You expect your withholding and tax credits to be less than:
  • 90% of your estimated tax liability for the current tax year
  • 100% of the previous year's tax liability, assuming it covers all 12 months of the calendar year.

 

[TechSri]

16 hours ago, rushmore said:

Assuming you're self employed or a small business owner, You need to pay quarterly estimated taxes.

The IRS uses a couple of rules to determine if you need to make quarterly estimated tax payments:

• You expect to owe more than $1,000 after subtracting withholding and tax credits when filing your return, or
• You expect your withholding and tax credits to be less than:
  • 90% of your estimated tax liability for the current tax year
  • 100% of the previous year's tax liability, assuming it covers all 12 months of the calendar year.

 

In layman’s terms bhaiah. Every quarter manam social security pay chesala. How to pay that in online. Can’t they deduct from 1099 pay

[DammaDakkaDolly]

18 hours ago, rushmore said:

Assuming you're self employed or a small business owner, You need to pay quarterly estimated taxes.

The IRS uses a couple of rules to determine if you need to make quarterly estimated tax payments:

• You expect to owe more than $1,000 after subtracting withholding and tax credits when filing your return, or
• You expect your withholding and tax credits to be less than:
  • 90% of your estimated tax liability for the current tax year
  • 100% of the previous year's tax liability, assuming it covers all 12 months of the calendar year.

 

What happens if not paid quarterly? 

[Hitman]

8 minutes ago, DammaDakkaDolly said:

What happens if not paid quarterly? 

Penalty vestaadu.. notice vastadi after few months 

[DammaDakkaDolly]

Just now, Hitman said:

Penalty vestaadu.. notice vastadi after few months 

How much penalty 

[Hitman]

2 hours ago, TechSri said:

In layman’s terms bhaiah. Every quarter manam social security pay chesala. How to pay that in online. Can’t they deduct from 1099 pay

IRS Online lo company details to monthly pay cheyyali as a deposit 

[TechSri]

21 hours ago, Hitman said:

IRS Online lo company details to monthly pay cheyyali as a deposit 

Tax filing time appudu cheyalema. One guy said we can pay self employed taxes and fed taxes of 1099 at tax return time

[perugu_vada]

21 hours ago, Hitman said:

IRS Online lo company details to monthly pay cheyyali as a deposit 

@Hitman uncle .. given an option c2c best or 1099 best, own corp unte ? Any idea ? 1099 ki aithe tax ekuva pay cheyali ani annaru .. so not sure wat that extra tax is for 

[TechSri]

44 minutes ago, perugu_vada said:

@Hitman uncle .. given an option c2c best or 1099 best, own corp unte ? Any idea ? 1099 ki aithe tax ekuva pay cheyali ani annaru .. so not sure wat that extra tax is for 

Own corp unte c2c chesuko bro. 
 

nenu adigindi individual without any own corp. 

[Hitman]

1 hour ago, perugu_vada said:

@Hitman uncle .. given an option c2c best or 1099 best, own corp unte ? Any idea ? 1099 ki aithe tax ekuva pay cheyali ani annaru .. so not sure wat that extra tax is for 

Do you have own corp? If yes go for C2C. If No get one. 
with C2C you will have many benefits writing off expenses 

[Hitman]

1 hour ago, TechSri said:

Tax filing time appudu cheyalema. One guy said we can pay self employed taxes and fed taxes of 1099 at tax return time

I don’t know about it. In my case I’m instructed to deposit monthly based on my variable income.

I think once in India trip I forgot to deposit timely, also that month income is little higher side. End of the year I received 250 penalty approx for late payment.

[TechSri]

Any one worked on 1099-NEC

[VinPetrol]

39 minutes ago, TechSri said:

Any one worked on 1099-NEC

ne question enti bro

[gudachari007]

1 hour ago, TechSri said:

Any one worked on 1099-NEC

Yes