I got a 1099 this year for 17k, is there any way i can avoid paying self employment tax? freakin' $2500 on top of income/medicare/fica.
that sux!
the reason i'm wondering is this line in TaxCut:
Quote:
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Most people will answer Yes here, because compensation in box 7 is usually income from self-employment. Box 7 income is self-employment income if it comes from an activity you carry on regularly to make a profit.
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well, i don't do this regularly.