My first 1099 what to do?
 

Ok I just got my first 1099 from a sponsor what do I do with it who do I send it to?

jump off a bridge and try to fly..

dance.

Now you get to pay taxes.

your accountant

I dont have an accountant it's not for much a few g's?

Have you ever paid taxes before?

dont lie. you have no checks.

take a pic to proove it.

no traffic = no money.

you are worthless scum

you cant even afford a 10mb hosting account

nope this will be my first time I guess?

lol you have never paid any taxes? wtf

You have to add it and claim it as income on your taxes that you file this year. :2 cents:

Is it over $10k?

that means bend over because the lovely government gets about 15% of that.

Go get turbo tax for federal and your state.

hooray for offshore banking ;)

15%? I'd be very happy. We get charged a lot more then that.

thats for his Giga Cash sig :)

You have a nice non-clickable sig. :thumbsup

The government gets 15% of that from Social Security alone (and you can't lower that or dodge it). That doesn't even count your actual tax obligation, which is dependant on your tax bracket.

Go see H&R Block.

:upsidedow

Don't do anything.

Wait a few years.

Then get audited, trialed and convicted of tax evasion.

And become Richard Hatch and Michael Jackson's jailbird lover

Happy Valentine's day :)

How much it is it for ? Figure one third goes to W

i am sure he has the adult.com sig only because he doesnt want to get banned

You file you taxes on it. You need to fill out a schedule SE( that stands for Self Employment Tax ) in addition to you 1040. This is the same as FICA tax for people that have "regular" jobs. This apporximately about 1/7 of what you earned on that 1099. 50% of what you pay in SE taxes is deductable off your taxable income.

You also need to fill out a schedule C or schedule C-EZ depending on whether or not you plan on declaring more than $5000 in business expenses.

it's accually best if you to to H&R block and have an expert do it for you sicne this is your first time. It's not hard once you know what you are supposed to file.

Also if you earned less than $600 in a year with a sponsor they are not required to send you a 1099 but you are still required to report that income on your taxes.

never filed your taxes before, get some software as suggested above.. should help

Do some research.

:thumbsup

Good advice, and next year you get to write off H&R Block or whoevers does your taxes.
:upsidedow

GigaWho? GigaWhat?

GIGACASH!!!!!

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