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I worked 4 months this year as a 1099 employee. I made

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I worked 4 months...

I worked 4 months this year as a 1099 employee. I made $5,440.00. What is my tax liabiltiy on this amount.

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

I lost my job the end of February this year as a Paralegal. An attorney friend needed a temporary Receiptionist, while her's was on medical leave. I worked mainly as a Receiptionist; but, if she needed me to handle some of the legal work to help her Paralegal get caught up a did, and of course she compensated depending on what I was working on. My base salary was $15.00 an hour.

Accountant's Assistant: Is there anything else important you think the Accountant should know?

No. My job ended mid-May 2017. February 6, 2017 to May 19, 2017

Submitted: 6 months ago.Category: Tax
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1/6/2018
Tax Professional: Robin D., Senior Tax Advisor 4 replied 6 months ago
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 18,210
Experience: 15years with H & R Block. Divisional leader, Instructor
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Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

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Tax Professional: Robin D., Senior Tax Advisor 4 replied 6 months ago

You are required to pay self-employment tax if your net self-employment earnings were $400 or more for the year. This $5440 was Self Employment income.

Social Security tax is assessed at a rate of 6.2% for the employer and employee. Since self-employed individuals are considered to be both the employer and the employee, the Social Security tax rate for self-employed individuals is 12.4%.

The Medicare tax rate is 1.45% each for employers and employees, so self-employed individuals pay a Medicare tax rate of 2.9%.

15.3% total on the first $127,200 in net self-employment income. $770 in Self employment tax. You will need to file a Schedule C with your return to report the income.

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