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Lev
Lev, Tax Advisor
Category: Tax
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Experience:  Taxes, Immigration, Labor Relations
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hi i got an abn and done some work cleaning. but i dont know

Resolved Question:

hi i got an abn and done some work cleaning. but i dont know what to do once i have been paid. i have been paid for 4 jobs now i think and i think its time i do something. how much trouble am i in?
Submitted: 3 years ago.
Category: Tax
Expert:  Lev replied 3 years ago.

LEV :

Hi, I will do my best to address your concern. Did you do cleaning for private persons or for businesses?

LEV :

I assume that was not regular jobs, but self-employed activities. If you worked for businesses - you shoudl receive a reporting form 1099-misc if they paid you at least $600. You need to use schedule C - http://www.irs.gov/pub/irs-pdf/f1040sc.pdf to report all your income on the line 1 . You wil also report your related expenses - please see lines 8-27 for the list of expenses.

LEV :

You will calculate your gross income from your cleaning activity on the line 7.

LEV :

That amount will be included into your income and reported on the tax return line 12 - http://www.irs.gov/pub/irs-pdf/f1040.pdf


In additional - if your gross income is more than $400 - it might be a subject of self-employment taxes. Please use the schedule SE to calculate your self-employment taxes - http://www.irs.gov/pub/irs-pdf/f1040se.pdf - generally - it would be 15.3% of your gross business income. Half of your self-employment taxes will be used as a credit on the form 1040 line 27, and total amount will be added to your tax liability - line 56.




Depending on your other income - you also might be eligible for Making work pay credit - line 63



and Earned Income Credit - line 64a



LEV :

Let me know if you ned any help or clarification. I will do my best to make these things clear for you.

LEV :

Sorry - I just noticed that you are asking about Australia taxes, not US taxes...

LEV :

I will opt out - so other experts may better serve you. Sorry for confusion.

Customer :

ok no worries

Lev, Tax Advisor
Category: Tax
Satisfied Customers: 22638
Experience: Taxes, Immigration, Labor Relations
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