I am a direct home sales consultant and need to know how to figure what taxes I need to pay?
I earned around $1600.00 since August when I signed up and am not sure how to figure the taxes that I would pay for that amount. I have very few deductions for my business so far. maybe around $200-300.
Public Comments
- File Schedule C or C-EZ with your Form 1040 tax return to account for the income and business expenses. If the net exceeds $400, attach Schedule SE to your return to calculate the self-employment taxes.
- Schedule C, schedule SE. Depending on your other income, it could be 30% for federal.
- You need more deductions!
Powered by Yahoo! Answers