How to file your taxes as an independent contractor?

Learn how to file your taxes. Received a 1099? Didn't receive one? We can help!
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Recording from Everlance Live Tax Q&A: • Everlance x DoorDash+C...
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[@peekaboo9976]

Thanks bruh you helped me a lot with this video I’m about to quit my warehouse slave job and start working for myself well informative video keep it up 👍🏾

[@17trr23]

SMH, this video didn't even mention estimated quarterly payments.

[@orsonwelles4254]

mileage? As in car mileage? And what do expenses consist of?

[@kalikiexp618]

car mileage yes, plane mileage as well think. all the costs, travel wise that it took you for say a business trip

[@katemallory]

I want it know if I can take social security out of my income as if I were working a W-2 job 🧐

[@17trr23]

SS tax is a part of the self-employment tax that contractors pay -- also including state unemployment insurance.

[@BaxxFam1]

I am in new jersey and i just started cleaning homez but am anxious sbout tax wat fo i do

[@WWEFANSCONNECT]

what about having to pay taxes quarterly? does this apply to all independent workers?

[@17trr23]

You only need to make quarterly payments if you your estimated taxes that quarter will exceed a certain threshold -- I think it is $1000. If you don't pay quarterly, you are fined at the end of the year.

[@jrjcpa7313]

As an up coming independent contractor this was very helpful. thank you!

[@danbremer7010]

I very much recommend Turbo Tax if you’re a small contractor. I’ve done my own taxes and Turbo Tax saves me money in taxes.

[@memeherpes2134]

THANK YOU ☺️ this was really helpful and informative!

[@ramyteinformaexplorandocon7875]

I wanna know how to pay it. The process, the paper

[@titlepending1302]

Do you know how to now because I’m confused

[@marci_rey_6941]

How do I find the percentage for my state New Jersey?

[@5ohhlobo]

Can I write off my truck payment if I am using it for work?

[@danbremer7010]

Yes if your company bought the truck. But you can’t deduct mileage.

[@EDungarian]

How do I get a 1099 if the company I freelance for doesn't send me one?

[@FromAsiaWLove]

I only made about 1600 for my contract and my return dropped over 1000 dollars, I’m clearly doing something wrong

[@oly6919]

Anything to know concerning having a full time job as well as subcontracting work?

[@jamiecarpenter8558]

When I filled out tax forms at my full time job it had a section to list any additional jobs (including contracting) so you can withhold extra money for tax purposes if you wish. I found that helpful to do so I didn't have to pay taxes when I filed :)

[@Aatell764]

Yeah what the other guy commented tax papers often include a section for that kind of thing, you probably skipped over it the first couple times like when you are married or not you skip an entire page

[@TheBrownIsland]

Worked part time as an UberEats/Doordash Independent Contractor last year due to some health issues. Never again. I found out that Independent Contractors pay way more Taxes than regular W2 Employees. It didn't matter the Mileage Tracking, and Expenses. The more expenses, the more I owed. Owed 3 times the taxes paid when I was an hourly employee.
I put in several applications for a regular Job, because it's Not worth it _(the wear & tear on my Car and being out there)_ unless you make a substantial amount of money. More than $10,000.

[@Djsatile]

Everyone can’t be a boss

[@matthewvz28]

Sounds like you didn't do it right.

[@joecoolberry911]

It’s more that’s not a good job. If you are going to be independent you shouldn’t still be under a company name. If offer a good or service then you reap way more benefits and make the taxes not that big of a deal

[@joecoolberry911]

Otherwise just deliver pizza for a company so you have the W2 steady work, some places insure your car too when you are on the job.

[@ivanchavez1799]

So what it is best here, spend in computer equipment thant giving the taxes to the IRS?

[@lizzetterivera2324]

Great! Clear; explicit & to the point!👏

[@abreika]

Very informative, thank you!

[@fontunetheteller410]

I’m an independent sub contractor. Is that the same?

[@willoughbykrenzteinburg]

Generally, if there are withholdings from your paycheck (federal income tax withholding, social security, medicare) and you receive a W-2 with all the wages and withholdings detailed, you are an employee and you would not follow the advice in the video. If you get paid without any withholding and get a 1099 from those who paid you - or nothing at all, then you are self-employed (contractor) and the video would apply to you.

[@BLULIU]

@@willoughbykrenzteinburg what about prime contractors?

[@dktakeover8842]

If I need to hire people based on job to job bases what’s the easiest way to pay them? Can I file them as sole proprietors?

[@dyaonna]

The company said they don't give you 1099 because you are a contractor ?

[@jwyzebeatz]

...........

[@carolynmorese7767]

very helpful! Thanks so much!

[@apemandan5187]

thank you

[@ashleyr.7086]

Thanks

[@lovemyson480]

I owe approximately $504 in taxes but got a $1000 deduction, so I stil owe taxes?

[@ProseCombats]

yes

[@teru797]

u ever find this out

[@claudiadeavila5768]

very interesting video, thanks for sharing, I have a question, I don't know if you will know the answer... in EDD wages type: "regular earrings including in Home Support" does it mean "working as Contractor from Home?"

[@pierdelecto2612]

Taxes - Liberals bestfriend.

[@kylebar724]

My biggest fear trying to start a business

[@starseoltd.4927]

Go home and do the tax returns for your parents only. Get off RUclips.

[@ripples1072]

chill

[@rushodai929]

Please stop jumping around. Write down an outline. Sound like a professional, not a novice youTuber.