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You were self employed for 3 months do you need to do a tax return?
Wiki User
∙ 14y ago
For tax year 2009 tax return that you will file in the year of 2010.
Generally a person who is self-employed must file a tax return if their net earnings from self employment for the year exceed $400, and pay social security and Medicare taxes and any income taxes that may be due.
If a dependent on someone else tax return and unearned income (pension, rent, interest, dividends, capital gains, etc.) over 950 must file a tax return.
For 2009 filing single and under 65 the gross income amount is at least 9350 must file a tax return. Excluding social security benefits.
For more detailed information on filing requirements go to www.irs.gov and use the search box for 1040 choose 1040 instruction and go to page 7 through 9.
http://www.irs.gov/pub/irs-pdf/i1040.pdf
And of course you do not want to forget the state as they could have different filing requirements and possibly some benefits you could be entitled to if you were to file a tax return with them
Wiki User
∙ 14y ago
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How much do you need to report to the IRS when self employed?
You need to report all of your income to the IRS whether you are self-employed or not. Anyone who receives at least $400 in self-employment income must file a federal tax return. State rules vary.
Will inaccurate self employed tax return effect my auto injury claim?
Inaccurate self employed tax return and auto injury claim should not have any affect on each other for income tax return purposes.
What if a non-custodial parent is self-employed?
You subpoena his tax return and 1099.
How many months can an employer use a self employed person?
23 years.
Do self-employed workers need a solo 401k?
Yes, if your self employed you are responsible for a retirement fund. If no 401k account is created, and you remain self employed you will only have what cash you have in the bank to live on.
What type of coverage does a self employed hair stylist need?
A self-employed (or independent contractor) hair stylist should have personal liability insurance and a business license.
How can a self-employed individual get an auto loan?
Aply For It Like Any Person Does. Present Income And All OtherInformation. That's It. Self-employed persons can use their federal tax return and bank account information as proof of income.
What is a self employed architect?
A self employed architect is bob the builder
Where can the information about self employed tax be found online?
The IRS website offers a lot of information on self employed tax. They describe "who is self-employed", "what are my obligations to paying taxes if one is self-employed" etc.
How much money can I make and not report to the IRS for self employed?
$400. Anyone with more than $400 in self-employment income must file a tax return.
How many accountants are self-employed?
10 percent of accountants were self-employed.
How does one start with being self employed?
If one wants to be self-employed, he/she is responsible for paying taxes and the National Insurance contributions. One needs to keep business records and details of his/her income so he/she can fill in an annual Self Assessment tax return. One also has to register for VAT.
