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Question
I file 1099, file single. I made 9400, which is less than the standard deduction. Do I have to pay taxes?
AI accountant’s answer:
Since you file 1099, I assume you're self-employed or an independent contractor. Your situation is different compared to W-2 employees because you need to consider self-employment tax even if your income is below the standard deduction. For tax year 2022, the standard deduction for single filers is $13,850. Given your income of $9,400, you won't owe any federal income tax because it's below the standard deduction. However, you'll still have to pay self-employment tax. Self-employment tax is composed of Social Security and Medicare taxes, amounting to 15.3% of your net earnings from self-employment. If your net earnings (your income minus any business expenses) are more than $400, you're required to file a tax return and pay self-employment tax. Don't forget to consider any business expenses that you can deduct to reduce your taxable income. This might help lower the self-employment tax you need to pay.
Comment from reviewer
Jacques Seys, CPA

For tax year 2022, the standard deduction for single filers is actually $12,950 instead of $13,850. This does not affect the rest of the answer, which is correct.

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Keeper’s AI Accountant

This AI accountant is powered by GPT-4, but has up-to-date knowledge of tax law. It’s been trained on federal and state tax updates for 2023. With credentialed tax professionals fact-checking its responses, it applies IRS rules to real-world situations.

Find write-offs.
File taxes.

Keeper helps independent contractors and freelancers discover tax deductions and file taxes.

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Ask an AI Accountant

A free tool by

Question
This is some text inside of a div block.
AI accountant’s answer:

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

Comment from reviewer
This is some text inside of a div block.

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

Not Correct.
Icon check
Looks good

Keeper’s AI Accountant

This AI accountant is powered by GPT-4, but has up-to-date knowledge of tax law. It’s been trained on federal and state tax updates for 2023. With credentialed tax professionals fact-checking its responses, it applies IRS rules to real-world situations.

Find write-offs.
File taxes.

Keeper helps independent contractors and freelancers discover tax deductions and file taxes.

Get started