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Any information will abt Income Tax?
Q. I am retired and I work part time writing, teaching, acting.My total income for 1996 with my deductions was not enough for me to pay any tax, but I made money from acting, teaching, writing. One place I teach gave me a W2 form and that amount went into total income,but th other places gave me a 1099 - MISC FORM and money here is immediately subject to a self employment tax. I had to pay the self employment even though my total income would not have been taxable. Are there writers out there or teachers who know any way around this. The acting agency and the local university use 1099 because it is to their advantage, is easier for them. They don't have to withold any tax or social security money. They won't, in short, change forms. There are not many deductions to take for acting or teaching or writing expenses. Any information will be appreciated?
A. - The "self-employment" tax is Social Security withholding (FICA). You have to pay it on everything you make and there is no way to avoid it. Normally your employer pays half of it and you pay half of it through a payroll deduction, but if you'r
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