Without this information, the customer might not know what the invoice is for and not return payment. The customer's information. Include the customer's address, phone number, social security or tax ID number, and any other relevant information. When a customer sends you a payment, you'll know exactly whom it's from.
Most people advise filing taxes every year, even if you income is super-low, so that the IRS never has any extra reason to audit you. As I, a non-professional understand it: $3,300 is the minimum to have to file if you work for an employer and get a W2. $400 is the minimum if you're self employed. Also, if you're getting a tax refund, you MUST file. Most people advise filing taxes every year, even if you income is super-low, so that the IRS never has any extra reason to audit you. As I, a non-professional understand it: $3,300 is the minimum to have to file if you work for an employer and get a W2.
1 You must report the entire $100,000 as earnings from self-employment as income on your Form 1040. 2  You must also pay self-employment tax on these earnings, which will be $12,283. ( 3 You are entitled to deduct one-half of this payment from your gross income.). 4  Corporation. Corporation. 2  You elect to receive a $20,000 dividend and $80,000 in salary. 3  The total employment tax liability is $10,640. ( 4 Although your corporation receives a deduction for the employment taxes it pays.) Using the dividend/salary strategy saves you over $1,600 in employment tax liability in 2011, alone.