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Thread: Question about filing 1099-first timer

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    Veteran Member seller317's Avatar
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    Default Question about filing 1099-first timer

    Do I have to pay what I owe when I file or can I pay it later like when I save up enough in a month? And how do I pay it?

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    Senior Member Hysterical's Avatar
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    Default Re: Question about filing 1099-first timer

    You can pay later, I used turbo tax home and business. Just pay before April 15th. There are options for payment plans with the IRS, but that's like an extra $130.It was actually pretty painless besides my own organization of receipts, that was a mess.

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    Veteran Member Pearl_Sugar's Avatar
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    Default Re: Question about filing 1099-first timer

    I really hope being a full-time student and married makes it to where I don't have to pay like... 3 grand... by April 15th...

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    Default Re: Question about filing 1099-first timer

    Just take as many deductions you can. Be conservative on "stuff" you're claiming. But there are so many things you can claim. Interest on student loans, health insurance payments, computer equipment, 50% of internet bill, mileage for business travel (including to the store to buy things for your business,) etc. I paid 30% taxes in my estimated payments, but I'm getting almost 1/3 of that back in a return. I'm sure that if you do some research you can come up with some deductions.

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    Veteran Member Pearl_Sugar's Avatar
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    Default Re: Question about filing 1099-first timer

    Could I deduct my $1300 macbook pro? :o I totally bought it a month after I started camming. lol

    We're (my husband and I) taking our taxes to H&R Block this year, because not only do I have 1099s, but he has W-2s, and we BOTH have 1098-Ts from school. I don't think we can handle it all on our own. But do you think H&R Block would deduct the computer and 1/2 internet without telling him what I do? I mean, do I need to prove that I have a legitimate job, or will my 1099s be enough?

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    Veteran Member seller317's Avatar
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    Default Re: Question about filing 1099-first timer

    I wasnt aware of the possible deductions until this year and still dont really know if I can do that this time or not. My bf is handling my taxes cuz he has more experience with 1099's. Im clueless lol But on a side note Ill have the 30% by april 15th. He just wants to file asap.

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    God/dess Cam_Model_Jess's Avatar
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    Default Re: Question about filing 1099-first timer

    Yes, you can deduct your macbook. But if you get audited, you'll need to erase ALL personal files & leave only business files. Or only use it for camming.

    I took a deduction for a webcam, a camcorder & its service plan, a $1100 desktop & service plan, a flatscreen computer monitor, wireless mouse, SD cards, flash drives, and a tripod. All at 100%. Print the e-mail saying SM requires you to have an i7. I am keeping that in my tax files.

    What I did not deduct that I could've (personal choice): pens, printer paper, notebooks, meals, mileage, DVDs, a computer desk, and a firesafe.

    You don't need to prove anything to H&R Block. Having a 1099 for self-employment means you can take certain liberties w/ business deductions. Self-employment is a "legitimate job". You don't owe your tax preparer anything in the way of an explanation. They don't even ask for receipts. If you get audited, it's your butt on the line. So just be honest & you'll be fine.

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    Default Re: Question about filing 1099-first timer

    seller317, feel free to PM me if you have questions. I'm not a professional, but this was my third year doing my SE taxes, and I've done pretty well w/ deductions.

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    Veteran Member Pearl_Sugar's Avatar
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    Default Re: Question about filing 1099-first timer

    Thanks Jess. What's funny is that I don't even use my macbook for camming because my webcam isn't compatible with it. >> I could make my macbook LOOK like I use it for camming, or I could try to switch. I was just having a hard time getting the encoder installed on it properly. @[email protected] But that's the only thing I would deduct. Hmm. Thanks for the information.

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    Default Re: Question about filing 1099-first timer

    If you can't use it for camming, don't claim it. But if you can set it up to have the ability to use it for camming, that could be ok. It's up to you to decide if you want to.

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