Can I Combine Contract Labor Income with the income earned with my 9-5?

[abzmfgb]

Title sums it up. I have recently been offered an opportunity to earn extra income. They will issue me a 1099 at the end of the year. I am trying to decide rather to lump this income in with my normal yearly earnings or not. I will be paid $42 for food, .42 cent/mile and around 50/hr. I dont know if I will have enough deductions to justify claiming this income as sol proprietor. As of right now...I have four dependents and between me and my wife earning 75k+...we pay nothing in federal income tax. I was thinking if i could stay with in the same tax bracket maybe i would be better off lumping the extra income with my normal earnings. Any advice would be apreciated. Thanks

 

[FlyingRon]

I don't have any idea what you are talking about. You just can't "lump" the self-employment income with your W-2. You must declare it on the sched C and SE appropriately. You can take off all legitimate expenses off the top on the sched C.