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Tax Form 9595 Irs

Tax Form 9595 Irs

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Instructions and help about irs form 9595 instructions

[Music - Piano melody] Hello, I’m Victoria from TurboTax with some important information about your 1099-MISC forms. Did you receive a 1099-MISC in the mail this year? If so, check to see if it reports an amount in box 7 for non-employee compensation. Calculating the tax on the tax isn't as difficult as you may think. There are many reasons why you may receive a 1099-MISC, but commonly it's because of the work you do as an independent contractor, meaning that you aren't an employee of the organizations you provide services to. As an independent contractor, the IRS treats you as self-employed. One advantage to this is that you can take business deductions to reduce your taxable 1099-MISC income. However, this also means that you need to fill out additional schedules with your tax return. Usually, you will have to report the 1099-MISC earnings on a Schedule C or C-EZ to calculate your net profit from self-employment. Your net profit is equal to the amounts repor

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