Working Poor

Erich Bloodaxe BSN

(14,733 posts)

1. I'm still poor, but just started working again as a 1099 type, not an employee.

Reply to left-of-center2012 (Original post)

Sun Dec 6, 2015, 09:10 AM

Dec 2015

And I'm a bit confused by the tax situation. Since I've always had the employer withhold taxes before, I guess I vaguely assumed there were parts specially earmarked as 'SSN' or 'Medicare' or whatever. So now that I have to cover that myself, I was expecting that I'd be paying double on those, but that as far as my regular income tax went, my total for 2015 is still way below the standard deduction for a single person. So I'm not sure if I'll owe anything or not, or whether next year, if I make the assumption that I'll get as much 1099 work and pass the standard deduction and almost maybe even hit the poverty line, whether I need to start filing quarterly estimated taxes.

Congrats on retiring, though.

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I used to be 'working poor' [View all] left-of-center2012 Dec 2015 OP

I'm still poor, but just started working again as a 1099 type, not an employee. Erich Bloodaxe BSN Dec 2015 #1

FYI discntnt_irny_srcsm Dec 2015 #2

I agree with everything but the last part Travis_0004 Dec 2015 #3

Thanks, I defer to professional advice discntnt_irny_srcsm Dec 2015 #5

I'm not the retired one here, so no, I'm not collecting SS yet. Erich Bloodaxe BSN Dec 2015 #6

Aside from the SS and medicare... discntnt_irny_srcsm Dec 2015 #7

That was the part I wasn't sure about. Erich Bloodaxe BSN Dec 2015 #8

I really don't want to give you bad advice discntnt_irny_srcsm Dec 2015 #10

You've actually been very good help. Erich Bloodaxe BSN Dec 2015 #11

You're welcome discntnt_irny_srcsm Dec 2015 #12

Welcome to the group Melurkyoulongtime Dec 2015 #4

welcome to the group w0nderer Dec 2015 #9

Thanks for the welcome left-of-center2012 Dec 2015 #13