Tax Tips
1099 Contractor Tax Guide
A practical overview of self-employment tax, quarterly payments, and Schedule C for US independent contractors.
Self-employment tax
You pay both the employee and employer portions of Social Security and Medicare on net self-employment income. Budget for this on top of income tax.
Quarterly estimated payments
The IRS expects estimated payments four times a year if you will owe enough tax. Missing deadlines can trigger penalties. Track income and expenses monthly so you are not surprised in April.
Schedule C
Most contractors report business income and expenses on Schedule C. Categories align with lines on that form — advertising, supplies, travel, and more. SnapTax maps receipts to Schedule C–friendly categories.
Record keeping
Keep receipts for at least three years (longer in some cases). Digital photos stored in SnapTax count as records when they clearly show date, amount, and vendor.
Export at filing time
When your tax season arrives, pay once for an Export Tax Pack, download your reports, and share them with your preparer. Re-export unlimited times within the same season after purchase.