Freelancer tax guide 2002

Freelancer tax guide 2002

Quick summary:

1. Form 1099-MISCAlso referred to as the Miscellaneous Income tax form, this is the tax form used to calculate tax liability as a freelancer.

2. The two tax forms you may already be aware of are the W-2 tax form, which is received through traditional employment, and the 1040 form, which is the standard U.S. Individual Income Tax Return.

3. If you make a substantial amount of income as a contractor or freelancer, or if you freelance full time, you are required to declare that income on your 2021 tax return and make quarterly tax payments to the IRS

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