Consultant Work Contract For Taxes In Travis
Category:
State:
Multi-State
County:
Travis
Control #:
US-00449BG
Format:
Word;
Rich Text
Instant download
Description
This form is a contract by a professional to teach at workshops for a company whose business consists, at least in part, of putting on these workshops. Consultant is an independent contractor and agrees to indemnify the company putting on the workshop for misconduct or any other damage resulting from his/her teaching. Compensation to Consultant is a percentage of the fees paid at each workshop after expenses (such as renting a facility).
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FAQ
Most consultants receive 1099 forms because they work for multiple companies, while an in-house consultant would receive a W-2.
Answer: Independent contractors generally report their income on Schedule C (Form 1040), Profit or Loss from Business (Sole Proprietorship). Also file Schedule SE (Form 1040), Self-Employment Tax if your net earnings from self-employment are $400 or more.
No, if you are an independent consultant or distributor for a direct sales or multi-level marketing company you are also required to report your income on Schedule C (Form 1040). As explained earlier, if you have net profits of at least $400 you'll also need to file Schedule SE.