Have a Tax Question? Ask a Tax Expert
Well, you will file both your federal & NJ tax return as an independent contractor. That means you will file Schedules C (as a sole proprietor) to compute your earned taxable income and Schedule SE (self-employment tax) to pay your Social Security & Medicare tax. The Social Security & Medicare Tax comes out to approximately 13% after the adjustments are made on Form SE.
There is no Unemployment Tax on yourself when you are self-employed which is the way you are being treated by whomever you are working for.
Since you haven't done this before, your should consider having one of the tax services like H&R Block, Liberty Tax Service or one of many other such firms prepare your tax returns this year.
What type of work do you do & are there other individuals doing the same or similar jobs where you work?
Just Checking In.......I see that you have seen my response; are you having any trouble with the rating system?
Do you have any questions, or may I assist your further with your question?
If not, please remember to rate my response as that is the only way we receive credit for our work.
Thanks very much.
If you'd like to reach me again here at JustAnswer.com, just ask for "Steve G." at the beginning of your tax or financial question.
Did you receive my last message?