According to hub report I earned $79.07 in May.
Payment is made June 20th for ($56.93) with ($22.14) withheld.
Ummm, why is anything withheld?
I'm assuming it was earned between the end of the month and payout
It's taax withholding. See the last items in this FAQ entry:
Thanks Jason. I really did look around for the answer myself and there it was in plain sight, thanks.
Screw what the CPA's say... if you've never been on 1099 before, be THANKFUL for the withholding. Almost every self employed person I know (most of my friends) has gotten in serious trouble with IRS over this at some point.
Philosophical arguments over slightly better yields and compound interest are rendered moot by the realities of IRS enforcement tactics.
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