What is the tax rate on a 1099?

Answer by  Liz59 (10966)

Well basically you will write down your tax rate on schedule c. It will be schedule c multiplied by the tax charged by your state multiplied by federal tax rate multiplied by the self employment tax which is usually 15. 3%. That should help with the 1099, which is the self employment taxes you need to fill out

Answer by  slkunz2003yahoocom (836)

The 1099 is considered income, just as wages on a W-2. Your tax rate is determined by your income and filing status.

Answer by  Kurt (4579)

There is no specific tax rate for a 1099 form. You will need to include that amount in your taxable income and your rate depends on your total taxable income.

Answer by  Kdm (180)

The tax rate is based on the net profit from the Schedule C. The tax is then calculated according to the IRS tax tables. Plus, of course, Self employment tax.