How much the IRS will tax me for the 1099-MISC?
I 'm a freelancer doing some project for my client I got paid for $9800 and had 1099-MISC. I'm wondering that how much will the IRS make me pay the tax for this freelance job? Thanks in advance.
United States - 2 Answers
Random Answers, Critics, Comments, Opinions :
1 :
A little under $1,400 in self-employment taxes, plus whatever income tax is due based upon your total income. You're taxed on the net income from the self-employment so any business expenses that you can document will reduce the tax bite.
2 :
Around 14.1% for self employment tax for social security and medicare, plus income tax - the income tax % will depend on your total income and tax situation
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