MHSFostermom
Junior Member
I recently accepted a position doing clerical work from my home in Michigan. The company is treating me as a contractor. I am getting paid with zero withholdings being taken out and at year end they will file a 1099-Misc.
My question is, how do I pay taxes on this income and is it a higher rate than if I were to receive a W-2? Do I need to pay taxes quarterly? Am I considered self-employed? Can I deduct any of my expenses?
Thanks for any info!
My question is, how do I pay taxes on this income and is it a higher rate than if I were to receive a W-2? Do I need to pay taxes quarterly? Am I considered self-employed? Can I deduct any of my expenses?
Thanks for any info!