Earned Income & 1099

Jump to Last Post 1-1 of 1 discussions (8 posts)
  1. profile image46
    amy326204posted 7 years ago

    Ok, so I work for my father and he pays me cash, total this year I earned $15,600, I make $300 a week. I am married but my husband has been out of work this year, we have two kids together so since I get a 1099 and not a W2 am I still eligible for the earned income from the kids or no because it is on a 1099???

    1. Quilligrapher profile image84
      Quilligrapherposted 7 years agoin reply to this

      Employers are required to withhold deductions and to file a W2 form with the IRS for every employee earning over a specified amount.  Gifts to children, however, are not taxed if they are less than the maximum permited. You might want to have a professional compare the advantages of these options.

    2. profile image0
      carburizedposted 7 years agoin reply to this

      Amy

      Depending on what 1099 form is classified. I believe if you have worked for your father, you could be classified as a contractor or freelance agent. In these case, your income will be earned income and can be used for earned income credits on your children. Since you got this cash, Irs would like to know the proof. May be you can provide  your fathers ss number and address to the IRS authority to provr your income.

      1. Aficionada profile image84
        Aficionadaposted 7 years agoin reply to this

        This is correct. That is, that you (Amy) would be considered a contractor or freelancer.  The income would be reported on form 1040, line 21 (that was the line number on the 2009 form) as "Other Income."  It will still be a part of your Adjusted Gross Income.  You should go to irs.gov and double-check to see whether you are eligible for Earned Income Credit, since there are penalties for taking EIC fraudulently or knowingly.  That is not your case, of course - you are trying to find out whether you would qualify.  But the IRS site would be a good place to check.  As far as the 1099 form goes, though, that should not be any problem.

        The EIC can give a refund even when no tax is owed.  But since tax was not withheld from the income reported on the 1099, you would first have to show on the 1040 form whether any tax was owed and how much, and then see whether you are eligible to receive the EIC.  Based on what you wrote (amount of income and number of children) and based on the 2009 1040 instruction book which I have been checking, I believe you would be eligible to receive the EIC. 

        But I am not a tax preparer or consultant.  I just happen to have reviewed a lot of tax materials within this past week, and I had the 1040 instruction booklet right at hand. (You do have to check "married filing jointly," even if your husband had no income, in order to qualify for the EIC.)

    3. profile image51
      DavidBisbeeposted 7 years agoin reply to this

      I am a tax professional with 15 years experience and I can help you if you want me to help.  As each individual situation is different, it is difficult to completely and accurately assess your situation without working with all your documents.  Reply back if want my assistance.

      1. profile image45
        kim barberposted 7 years agoin reply to this

        I am needing some help with questions with taxes I clean for a few people and they pay me cash when I am done that day, what forms do I feel out and what is the least amount and the most amount you can have without a w-2 or 1099?  Then am I able to qualify for EIC?

        1. profile image51
          DavidBisbeeposted 7 years agoin reply to this

          Every dollar you get paid you need to report as income.  You will need to complete a Schedule C on your tax return.  Deduct your expenses for supplies, insurance, mileage, etc to come up with your taxable income.  Depending on your filing status (single, married filing joint, head of household) and the number of your dependents, you may receive an earned income tax credit.  If you want me to contact you and review your situation in more detail, please provide contact information.

    4. profile image47
      RJFights54posted 7 years agoin reply to this

      def get an answer to a tax question in September, its like 10 lil questions in one so let's start with the reason I am looking for answers in sept...I am self employed carpet layer in Ohio I make on avg 23000 a year every year my wife and me file differently depending on who does our taxes we hav 4 children total and 2 together, she makes about 19000 a year W-2 mine is a 1099, the new guy that I'm workin for told me I can get 55cents a mile as instead of the 6000 bucks in gas I usually get credit for is this true, if you sense excitement its cuz I drive 600 miles a week for the new guy, my math says that is over 15000 dollars a year, CATCH? Or legit, that's the main question if you wanna answer the lil ones in ALL the info I had to give to make sure I did my part (info wise) thx, and I won't hold ya to it, funny how I treat u as a TAX GOD but the idiots that do them, my wife just tells me what we owe and I pay the man, HELP ME do better please

      replymore →

 
working

This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

Show Details
Necessary
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
Features
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Marketing
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Statistics
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)