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  1. #1
    Newbie
    Join Date
    January 19th, 2007
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    14
    Quick Tax Question...
    Lets assume the only income on the tax return is CJ's 1099 form. (No Deductions / Over 15K) The Feds take a nice even 1/3 right?

    Thanks!

  2. #2
    Super Dawg Member Phil Kaufman aka AffiliateHound's Avatar
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    January 22nd, 2007
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    West Covina, CA
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    Emphatically No.

    You need to talk to an accountant, or at least look through "1040 Forms and Instructions"...
    Quote Originally Posted by Infinity
    (No Deductions / Over 15K)
    ...and probably some additional IRS publications on business deductions.
    Since June 10, 2012 a vegan aarf but still writing the Hound Dawg Sports Blog
    "If you don't have time to do it right, when will you have time to do it over?" -John Wooden;
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  3. #3
    Newbie
    Join Date
    January 19th, 2007
    Posts
    14
    I guess I'll do some research. I just poped open a new Turbo Tax Form and only put in one 1099 form and it gave me 1/3. I'm good with doing deductions. This is my first year doing 100% Affiliate work, with no "Real Job" as my wife says. Basically just trying to get a guestimate on what % I should put aside.

    Thanks!

  4. #4
    notary sojac Herb ΤΏΤ¬'s Avatar
    Join Date
    January 18th, 2005
    Location
    Central/Western NY State
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    7,741
    any earnings over net $400. mean you pay Social Security tax.

    good to work with an accountant.

  5. #5
    Member
    Join Date
    December 6th, 2006
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    na
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    173
    How do you get paid from CJ?

    direct (as a sole proprietorship) or through a company.

    I would say talk to an accountant not only for this years taxes but so you can minimize the coming year's taxes.

    G'luck

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