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Old 03-17-2004, 07:25 AM   #1
blueindian
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Join Date: Sep 2002
Location: down in the ghetto
Posts: 4,142
any way to eliminate the self employment tax?

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:
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.


well, i don't do this regularly.
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yeah, pretty much we missed the boat on that one. but it's still here. get you some.

Last edited by blueindian : 03-17-2004 at 07:47 AM.
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