my husband and I are both self-employed. Do we have to pay taxes quarterly or can we pay all at the end of the
476343
This I will not recommend or suggest anything, the best will be is for you to see your accountant/auditor.\n\nYou don't mess with the government and theres no telling what they will do and how much messy they can make this for you.\n\nTaxes is one thing that I will not fool around with. iRS people can be your nemesis.
743992
you would pay the taxes later...and that hurts...your boss should be taking them out now.  Full time students pay taxes like everyone else
724145
If you have a choice, you should request being "w2'd".  Filing a 1099 means you must pay both the employer and employee portion of FICA and Medicare.  Of course, there shouldn't really be a choice, either you're an employee or you're an independent contractor.  As an independent contractor, if you travel (not commute) for your job you can deduct auto expenses.  If you use a portion of your house for the business, you can deduct home office expense, however, that's a little tricky and can sometimes trigger an IRS audit, so make sure it's done right.  Keep receipts for any expenses you have related to your income - supplies, etc.  You sound like you could use a professional tax preparer.
943744
Form 16 will be issued after financial year end. You can work in two companies.  In this case you will get 2 Form-16 and you can submit those two forms at the time of filing returns. \n\nAt the time of filing your returns, if the two companies put together have collected more tax than what you have to actually pay, then you can claim for refund.  If you have to pay tax, then pay the tax at the time of filing.
42780
Do it both ways...jointly and married filing separately and see where you come out better.  You can file either way.  But you actually FILE one way or the other, whichever is best for you. It's worth the time to do the math twice.
309407
You are correct. Taxes are only paid on "income," and since the money loaned to you had already been earned by him, he would be responsible for the taxes on it regardless. The interest he earns off the loan is considered income, and he would have to pay income tax on that.
631041
You can use 1040 to file jointly. Since your wife is self-employed, she can use schedule C to report her income.\nYour wife can also deduct necessary and ordinary business expenses(office supply, advertisement, auto, home office ...). The difference of income and expenses is called net income which is subjected to both self-employed tax and income tax. I suggest you seek a qualified tax professional to handle your tax reurn due to your wife's self-employed status.\n\n-Zhicheng Lai Enrolled Agent
609862
No.  You only pay the taxes in the country that you live, work, or own property.  Note the last.  If you own property in two countries, you will have to pay taxes in both countries. \n\nCitizenship does NOT equal taxes.
659655
You pay self-employment tax, calculated when you file your tax return, by completing Schedule SE.\n\nBTW, if you're getting a 1099, then it isn't your employer...
260669
Make sure you file your return even if you cant pay what is due.  Wait for the IRS to bill you, once you have the bill call IRS and make arrangements to pay monthly what they determine you can pay.
70536
I'm not an accountant, but...as an employee, you're a W9 employee(Company reports and pays taxes on you.)  As a self-employed / contract person, you are a 1040.  That is you report, file and pay ALL of your own taxes.  You will continue to pay the same rate, but, will have business deductions that you wouldn't have before and you will have to pay the full Soc. Security taxes (about 15%).  Before you and your employer shared that expense.
1168492
For federal, you'll need a schedule C (or C-EZ) where you'll list your business income and expenses.  Will probably also need Schedule SE to calculate self-employment taxes (covers social security and medicare taxes).  Numbers from these schedules go on your 1040.\n\nFor state, each state is different.\n\nGetting an accountant, especially for at least the first year so you can see how it's done, would be a real good idea.
47405
You.  If the employer did not pay taxes or withheld any from you, you are considered an independent contractor and should pay your own taxes.  If they paid for you, you would have received a W2 form from them.
362796
You should consult a tax professional in NZ for the specifics.  I would assume that if you pay all the taxes due in the US, you shouldn't have to pay anything over there.  INCOME tax should be paid where you make the income, which is a business in the states.  NZ shouldn't be able to tough it.
93707
Yes, you have to file if you made more than $400 in self employment.  If you were paid on a 1099 as an independent contractor that would be considered self employment.  You have to pay self employment tax, which is social security and medicare, on your 1099 income.  File a 1040, and a schedule C for the 1099 income.  Self employment tax goes on Schedule SE.  Deduct the studnet loan interest on the 1040, line 33.
445375
Ugh, you need to file your taxes if you make more than $400 as an IC and I believe $700 as an employee. Not everyone has to file taxes.\n\nDON'T listen to ALMOST ALIVE. The IRS's site and other documents clearly state that independent contractors have to file if they make OVER $400. I'm sure he'll get caught soon. ALMOST ALIVE, aside from the taxes that you owe, just imagine how much in penalties you will have to pay-up to 25%. And, the IRS calculates interest on a daily compounded basis at a minimum of 7%. They have up to 10 years to collect for each tax year.
330516
As far as quarterly estimated taxes to the federal and state, you would not have to "deduct" any taxes per week.  Instead, you would take the amount of net income he received during the quarter and apply based on a reasonable percentage - say 20% for Federal purposes.\n\nNext year you could alter these estimated taxes based on your experience for this year.