1099 or employee

You got it. Any extra money you had with held on your W-2 will be used to pay the taxes on the 1099 amount. That will be paid before you get a refund.

 

All monies earned are added together.
Then you take your deductions.
Minus any taxes paid.
If anything's left over you get it back. If not you pay.

 

when you tax time comes you will get your w2 from your one job and a 1099 from your other. you will enter those into what ever program you use. it will figure out what if any money you are getting back. or if you owe monies. best bet is to get a tax person to do it and not some turbo tax account a real account who knows 1099 and trucking to get you the most deductions he/she can legally

 

Okay okay , I was figuring thats how it worked...I use a tax person to do my taxes...same tax lady for the past 3 years. I been at the job I was at for 2.5 years before I left to do the 1099 deal...I knew I messed up once I went to the other company...learn and live though ya know. I didnt know if the company I left to go to would send me 1099 paper or how it worked. I'm 23 and never really had to mess with anything but a W-2 till I went there , so I was kinda lost.

 

yea just call her and ask her if she is up to date on 1099 tax reporting. your form boss will send you the 1099. the down side is that on a 1099 you didnt pay taxes SSI or state taxes nor local...so she will have to figure all that out.

 

Thanks carr...I have tons of old paystubs from through out the year that would maybe help her figure it out...

 

Basically if you are not an owner of a truck, don't pay fuel, and don't pay repairs but are 1099'd the guy you work for is an ####### and it actually is illegal. CARRKOOL is one of those I speak of, see link at the bottom after my tirade as to why people like him are incorrect in their assumption.


The reason they do it is they don't need to pay workmans comp, insurance, unemployment insurance, their half of SS withholding etc. they do it because running a business takes more brain power, time, and revenue then they posses. They also do it so they can be scumbag leaches and keep their rates low since they don't have the actual skill or business acumen to run a legal competitive business.


You should have your tax bill covered by what was paid in on your W2 as you were only 1099'd a short period. In the future DON'T work for a 1099 operation.

Here is where the IRS outlines why you were not a contractor there for not legally allowed to be 1099'd

http://www.irs.gov/Businesses/Small...ndent-Contractor-(Self-Employed)-or-Employee?

and here is where an example on how people/businesses like CARRKOOL break the law except on a larger scale. They werefound to be legally liable and in the wrong for operating like he does and misclasifying company drivers as contractors. Over 21 lawsuits LOST by fed ex and the largest,15,000 drivers, still pending even though the article is 5 years old.

http://www.ccjdigital.com/fedex-ground-settles-california-owner-operator-classification-lawsuit/

 

So a 1099 is to pay for contractors, but since the "contractor" does not provide any equipment, fuel, road expenses, etc then is a sleazy way to avoid sharing taxes load like everyone else. The "contractor" gets to pick up all Federal , State, SS and county tax????

And what happens if "contractor" gets hurt on the job? I presume he is SOL????no workers comp???

 

1099 and screwed

Best part is if the payer screws you over all it takes is one call to the IRS and they are screwed then.

 

Hum, thanks for the input. I am dealing with an O/O who gave a good speech, needed the money, I can half ##### deal with the taxes, buy no workers comp on a 7day run???? BS!!!!!?