I am filling in for a month or so doing medical transcription – I don’t think I will make more than 0 a month but do not know if I will be needed thru the whole summer – so I could make anywhere from 0 to 00. What is the most I can make without claiming the income? Do I have to claim this money on my taxes no matter what? Do I need to get a 1099 from the Drs I am typing for? or from the woman I am typing for since I am kinda subcontracting off of her?
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Yes, it’s income, and assuming it’s not on a W-2 with taxes taken out, you’d have to file if it’s over $400 total for the year. If it’s on a W-2, you would be able to make more without filing since social security and medicare would already be paid.
The 1099 should come from whoever is paying you. But whether you get one or not, you’re legally required to file a tax return declaring this income.
If no one gives you a 1099-MISC, then you will probably not have to declare any income or taxes. If you concious really bothers you, you can always pay taxes on it. I would ask the woman that is paying you what she is going to do?? The doctors should be giving her a 1099 and she would have to pay taxes on the income. Drs. would most likely give her one to declare the money as a business expense. However, if she pays you in cash and there is no 1099, I would not report it. I would also find out how much they are really paying her. If she is working 20 hours a week then she is working for $5 an hour. She may be holding out the taxes and some profit even though she is giving you some money.