PLEASE! Need 1099-MISC tax help?

I made $4,250 last year doing freelance voieover work for two agencies. I received 2 1099-MISC for the work done. This has taken my refund down by a total of over $2100 (fed %26amp; state combined). My child tax credit for my son is gone. I owe so much to the state of CT that my minimal federal refund can%26#039;t even cover it. Why would they take 1/2 of the money I made? This is very frustrating. I have figured this out on TurboTax and H%26amp;R Block online as well as talked to an H%26amp;R Block rep (who wanted $470 to file my taxes). Grrrr!!

PLEASE! Need 1099-MISC tax help?

Since you are not an employee to the business (freelancer), they consider you as a self employed even though you do not operate a business. 1099 misc without expense is subject to the self employement tax (15.3%) in addition to the income tax in form 1040. without further detail of the whole return, cannot explain why reduce the refunds. I hope the above helps on questions on 1099 misc.

PLEASE! Need 1099-MISC tax help?

Sounds like you are operating a small business. If so you should consider filing Schedule C and claiming business related expenses. If you own your own home you may want to consider the home office business deduction, Schedule E.

PLEASE! Need 1099-MISC tax help?

fill out your form again, as if you were operating a business. this way your money will be put into social secrity. i do the same type of thing with my mom, i make phone calls, she pays me and we file the 1099. i put it on a sch c, i also run a small business, again on a sch c. if you do not have expenses, that%26#039;s ok, just see if doing it as a business will help you recover some of your refund. my income is absorbed due to other income in the household, so i can%26#039;t honestly tell you how it is affected. it%26#039;s worth a try.