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Financial Planning / Tax Strategies


Subject:  1099-MISC Date:  3/13/2003  1:33 PM
Author:  cas75 Number:  64495 of 127543

I have a question:

I was laid off earlier this year, but I still work at the company...approx. 35-40 hrs. a week. I will be receiving a 1099-MISC form at the end of the year. Does this income have to go under Schedule C. I just did an estimate and due to the self-employment tax, I may owe over $10000.00 in federal taxes + fica...That's not even counting what I have to pay to the state.

Please tell me I'm wrong!

Thanks from a newbie.
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