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fawningandconning t1_j2fihvw wrote

That's not a salary job, if you're filling out a W-9 you're being paid gross with no taxes taken out and you're a contractor.

You should file your quarterly taxes for the current quarter (Q4)

>Ive also kept a detialed list, more detailed than any previous reporting year of all of my work-related expenses (clothing and gloves for the first job. Gas and mileage for one of my current jobs).

If those are related to W2 work none of those are deductible expenses.

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BakedPastaParty OP t1_j2fiy4k wrote

I was just looking back at my records and I actually filed W-4 for the job that has work related expense stuff. I was a temp employee hired as a garbage loader. I rode on the back of the garbage truck and walked down our streets dumping all the trash cans. Im talking jackets, boots, gloves, hats, face protectors etc(I worked Sep-March) That would count right? And Im not sure if it was a W-2 or W-4 in the past, but I worked as a machine operator and all all of that kind of stuff got me a deduction(particularly winter jacket, boots, work gloves that we went thru daily). It's what encouraged me to save receipts and everything the whole year.

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fawningandconning t1_j2fj8du wrote

No, all of that if you're paid via W2 (you fill out a W4 to receive a W2) is not deductible. Your work should be reimbursing you for that, all of these work-related deductions went away with the 2019 tax law changes and the increase in the standard deduction.

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BakedPastaParty OP t1_j2flf8n wrote

I might be confusing my own initial information. I was told to keep track of everything for the fact it WAS deductible. So maybe w-2 is incorrect. i think 1099 is more what Im doing. Temp employee hired hour for hour

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fawningandconning t1_j2flmo3 wrote

You got bad advice then, if you're paid via W2 (aka, you receive a paystub which shows money withheld for federal/state taxes/social security/etc.) then your employer was wrong. You being hired hour to hour has nothing to do with it, all that matters is what you filled out initially and the way in which you're paid.

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BakedPastaParty OP t1_j2flzay wrote

Alright I will need to look into this to be sure what my situation is. That notwithstanding, the contractual payment I have going on is more my concern. So far, Ive gathered I am going to have to pay an overall percentage on that income as there aren't any witholdings at all.

e: I just want to know what kind of percentages to expect/ to try and use to project what I will owe/ etc. Ive got an informative answer, but I would love as much informative input as possible.

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fawningandconning t1_j2fm2vd wrote

Yes correct. You should expect to withhold at least about ~14% of your earnings from the contract job and pay that quarterly to the IRS.

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MarcableFluke t1_j2frux5 wrote

You will pay roughly 15% of your net earnings (income minus ordinary and necessary business expenses) towards self employment taxes.

You will be taxed federally on the net earnings as well. How much will depend on how much you make both from the contract position and other sources of income. We have a progressive tax system and all income is pooled together before a final tax liability is calculated.

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