I'm an independant contractor for one company. What do I use for business name and address on taxes?

I am an independent contractor for a company called Vertigration. Do I file under self-employed if I received a 1099-MISC? And what do I use as the business name and address? Do I use Vertigration's name and address?

I'm an independent consultant for The Pampered Chef and get a 1099 also. I put the company's name then self-employed. If you travel to an office, use that address, but if you work out of your home, use your home address (that's what I use). Usually they want the code for the business as well. I'm not sure what you company does, but I know Pampered Chef or direct sales isn't listed, so I use all 9's. NewHouse was correct is saying you need to file a schedule C. You may want to pay to have your taxes done (at least for the first time). It's worth the time and the money to get all your deductions. Hope this helps. Good Luck!

You file the income on schedule C of your form 1040.

You would just use your own name as the business name. If you have a business name you use, then you can report a doing business as name.

Don't forget you will be able to deduct all expenses associated with generating this income. This will be done on schedule C as well.

If you are feeling overwhelmed you may wish to seek the help of an accountant. I would advise against using one of the national tax prep services. It has been my experience that they are not experienced. They are not accountants with a degree. Usually the only qualification is to have passed the companies own tax class.

Good luck.

Put your name and address if your don't have a business name.
Yes, you will be filing as self employed which will go on Schedule C of the 1040.

You do not need a CPA to do your taxes. Any tax preparer can do a Schedule C. Places like H&R Block have enrolled agents who can practice before the IRS the same as a CPA or an attorney.


Look at the form and see what deductions you can take and make sure you have the information needed when you to to have your taxes done. You do not need receipts to file but will need them if you are audited.
If you are trying to do the taxes yourself the irs.gov website will usually have answers to any of your questions.

Michelle

You don't say what kind of work you do for Vertigration, but sometimes people are really an employee and the company simply wants to avoid paying their share of SS/MC taxes - so they give 1099s and TELL the employees they are responsible for their own taxes. Sometimes! Not always, that is NOT the correct thing to do.

I have a page dedicated to this on my website: http://www.TaxEfilers.com . I encourage you to check into whether or not you really should be filing a Schedule C or another form which correctly shows that you are an employee and are willing to pay your share of the SS/MC taxes (7.65%) versus being self-employed and having to pay 15.3% which is both the employer and employee's share.

You may not NEED a CPA to file your return, but we most often tell you about many items which other preparers in "fast" tax chains won't take the time to tell you.

For instance, just this morning, a client and I were discussing that she goes to the chiropractor. Most insurance companies pay for about $500/yr of these services. She told me that she paid the dr. $35/visit and the doctor does not file insurance. I told her she could file the insurance claim with her company herself and they would most likely reimburse her for amounts paid up to the $500/year. If you even go back and file 3 years - you'll receive $1500, and it won't take you one hour to do this. Pretty good pay for an hour's work - don't you think?

$1500 is more than she has paid me in the 10 years I've been doing her taxes. So, you see, she's really not paying me anything at all. AND, she's getting the advice of an educated person. I've had 60 months of training and 25 years of experience.

Ask anyone at H&R Block or Jackson Hewitt how much education/training/experience they have in preparing tax returns. You will be STUNNED!

Good Luck!
http://www.TaxEfilers.com