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Independent contractor?
I am planning to be an independent contractor in assisting client company's internal audit process (a.k.a. SOX). I am being paid at a fixed hourly rate, but I have total control of deliverbles, etc. Do I need to obtain special business licenese from government to file taxes as Self-Employeed indendent contractor?
Public Comments
- No. You just report your income and expenses on 1040 long form, Schedule C. Get tax preparation help with that if you want to maximise your tax savings and avoid errors that would trigger an audit. The water can get murky.
- You generally do not need a business license in order to file as an independent contractor. You will receive a 1099 from the company where you perform the contracting and this information is entered on your tax forms. more details on independent contractors from the IRS- see link
- Not from Us Govt - no. Just do your sched C based on 1099.
