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July 12, 2010
Q&A: I’m a freelance writer who earned less than $900 last year, do I need to file taxes?
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Category: Freelance Writer Help
Question by LauraD:
I started freelancing in September and from then until 1-1-2009 I made 4.05, do I need to file my taxes? Do you think I owe anything? Will I get in trouble if I don’t file? Will I get Audited?!?
Help!!!!!!!!!!!!!!!!!!!!!
Oh, and just incase anyone needs to know I sign 1099s not W-2 as an independent contractor.
I am only 18 years old and I have never filed taxes before. Will I get in trouble if I just wait and file in 2010? And pay anything that I owe then, will they bother me ?
Best answer:
Answer by jo614
Yes, you need to file Schedule C. The 1099′s that you receive will be sent to the IRS and they will be looking for a return to match it.
Know better? Leave your own answer in the comments!
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I think by law the cutoff for not filing is $600 but you should anyway as you will likely get a little money back. Go figure that one out.
Yes, you have to file. You won’t have to pay any taxes, if that was the only the income you had.
It is likely, when you fill out your Sch-C, that you can write expenses down below $400 so you won’t have to pay self employment or income taxes.
But you do need to file with self-employment more than $400. The IRS will be looking for you to claim that income.