Do I Need To Pay Self Employment Taxes If I Am Not Making A Profit?Private
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I make $80.000 with my regular employer before tax. My wife is a student with no job. We have no Children.
I also do self-employee job as an instructor, and get paid about $1,000 each session. However, $300 is for text book materials. I get paid by checks so I also get 1099 at end of year.
My wife says my self-employee job is not worthy because I don’t make any profit but these checks are equal to my taxes to be paid. Is this true? I am in Los Angeles, California.