confused!

[asscollection]

So I have a job teaching some summer day camp classes. Thing is, I'm being employed as an "independent contractor" which I guess is like being self-employed (?) so I'm having to take 30% out of my paycheck myself. I think. I'm planning on saving all my gas, supplies, and food receipts so that can be all tax deductible later

Comments

[music_l0ver]

I don't think you'll have to pay taxes unless you make a certain amount. And if you're young, and single, you shouldn't have to worry about paying any taxes. I know you have to file as an independent contractor when you make at least $600, but I know that I can make up to around $8,000 and not worry about having to pay taxes.

[zhelana]

No, if you're independent you have to play a special tax that everyone else's employer is paying for them - essentially the SSI tax that would be matched. And you can't get out of it. Shouldn't be 1/3rd, but it's still a LOT of money. It nearly broke me last year.

[music_l0ver]

Interesting considering I've never had to do that.

[zhelana]

I read every page on the IRS site that could be vaguely related and spoke to a couple professionals to see if I could get out of it. 99% chance you're a tax cheat and don't even know it... I only found out 'cuz my dad didn't know about it and got audited. Big trouble.

[music_l0ver]

I've talked to a lot of people that do what I do (all IC work online) and since I make so little, I haven't had to pay anything.

[zhelana]

I had made $5000 and had to pay $300. And that was after writing off a whole bunch of crap

[music_l0ver]

Yeah I haven't made enough to actually pay anything. I'll just have to see what happens when tax time comes around again to see what I'll have to do.