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Thread: Tax and 1099
May 11, 2009, 09:17 #1
Tax and 1099
If I work part time through a 1099 do I have to do an itemized tax or can I wait until the end of the year to claim them? It's a part time gig while I am collecting unemployment.
If I do get this 1099 gig I do plan on claiming these hours with unemployment. So do I collect the difference? They said yes.
Last edited by Another Designer; May 11, 2009 at 12:10.
May 11, 2009, 10:08 #2
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Be very careful what you do and who you tell. Depending on the state (like we all know your name is Harry and you live in Georgia)
Best to tell the truth when you file your reports to unemployment and avoid getting caught for whatever they call not reporting that you earned income to reduce your benefits.
If you are getting a 1099 for the first time, I don't think you have to furnish quarterly estimates.
At the end of the year, decide what is best tax wise. Probably a schedue c to get your business expenses separate from your personal deductions.
If New Jersey has an income tax, there may be other problems with unemployment.
May 11, 2009, 12:06 #3
I would never collect payment off the books. I went to unemployment and talked to them about it. I can do this work and claim the difference of unemployment. If I stop getting work I can simply start a new claim.