Step By Step, Calculating My DoorDash (1099) Taxes.
Door Dash taxes, 1099 misc form, independent contractor? All new to me. I needed to know how much money I should set aside from each paycheck for taxes but, I had no idea how much my taxes were going to be. I had never before worked as an independent contractor, received a 1099 form or done any research for taxes concerning self employed individuals. Um... Doordash taxes explained please? That's what I want to share now that I've learned a few things.
In this video I'm going to cover the results of my research in the order of how I used the information to calculate my taxes. The order roughly goes as follows:
00:00 - Introduction
01:19 - Finding which federal tax bracket I fit into.
02:37 - Finding which state tax bracket (California) I fit into.
03:27 - Learning about the Self Employment Tax rates
03:58 - Calculating how much to set aside from a paycheck for taxes
05:39 - Learning about Tax deductions
07:22 - Mileage tracking
09:20 - Including your tax deductions in your tax calculations (Doordash tax write offs)
12:03 - Estimated quarterly payments and finding due dates
13:35 - Where to make Federal Estimated Quarterly Payments online (https://directpay.irs.gov/directpay/payment?execution=e1s1)
14:49 - Where to make California state Estimated Quarterly Payments online (https://webapp.ftb.ca.gov/webpay/login/login?Submit=Use+Web+Pay+personal)
16:28 - Sample 1099 MISC from Door Dash
17:06 - Concluding thoughts
I did delivery services for Door Dash and GrubHub however, I only earned about $400 from GrubHub. They didn't send me a 1099 form since my earnings were too low, so I just added the earnings to my normal income. I only did food delivery as a part time side gig, I was employed full time elsewhere.
Stride Tax Webinar
https://stride.easywebinar.live/replay-taxes-q2?attendee=8525a6746611ad2eaa850de8cc4bf67e
Second Stride Tax Webinar
https://stride.easywebinar.live/replay-taxes101-19?attendee=60847d205a6a092db95bfdc07e10383b&utm_source=braze&utm_medium=email&utm_campaign=tax_tuesday
Other helpful videos and websites:
The Wealth Vibe - Shana Green
Self Employment Tax Explained
https://www.youtube.com/watch?v=Hf--4qMG-KY&list=PLGNC0avhJ_VYrjgWuG0_XPhk2oVvQIdPz&index=13&t=330s
Graham Stephan tax video
https://www.youtube.com/watch?v=V9X30VkLRtY&t=166s
The Rideshare guy blog mileage tracker app review
https://therideshareguy.com/day-5-what-are-the-best-apps-to-track-your-mileage/
#doordash #doordashtaxes #doordashtipsandtricks
Видео Step By Step, Calculating My DoorDash (1099) Taxes. канала Zac's Money FAQs - Investing & Finance Videos
In this video I'm going to cover the results of my research in the order of how I used the information to calculate my taxes. The order roughly goes as follows:
00:00 - Introduction
01:19 - Finding which federal tax bracket I fit into.
02:37 - Finding which state tax bracket (California) I fit into.
03:27 - Learning about the Self Employment Tax rates
03:58 - Calculating how much to set aside from a paycheck for taxes
05:39 - Learning about Tax deductions
07:22 - Mileage tracking
09:20 - Including your tax deductions in your tax calculations (Doordash tax write offs)
12:03 - Estimated quarterly payments and finding due dates
13:35 - Where to make Federal Estimated Quarterly Payments online (https://directpay.irs.gov/directpay/payment?execution=e1s1)
14:49 - Where to make California state Estimated Quarterly Payments online (https://webapp.ftb.ca.gov/webpay/login/login?Submit=Use+Web+Pay+personal)
16:28 - Sample 1099 MISC from Door Dash
17:06 - Concluding thoughts
I did delivery services for Door Dash and GrubHub however, I only earned about $400 from GrubHub. They didn't send me a 1099 form since my earnings were too low, so I just added the earnings to my normal income. I only did food delivery as a part time side gig, I was employed full time elsewhere.
Stride Tax Webinar
https://stride.easywebinar.live/replay-taxes-q2?attendee=8525a6746611ad2eaa850de8cc4bf67e
Second Stride Tax Webinar
https://stride.easywebinar.live/replay-taxes101-19?attendee=60847d205a6a092db95bfdc07e10383b&utm_source=braze&utm_medium=email&utm_campaign=tax_tuesday
Other helpful videos and websites:
The Wealth Vibe - Shana Green
Self Employment Tax Explained
https://www.youtube.com/watch?v=Hf--4qMG-KY&list=PLGNC0avhJ_VYrjgWuG0_XPhk2oVvQIdPz&index=13&t=330s
Graham Stephan tax video
https://www.youtube.com/watch?v=V9X30VkLRtY&t=166s
The Rideshare guy blog mileage tracker app review
https://therideshareguy.com/day-5-what-are-the-best-apps-to-track-your-mileage/
#doordash #doordashtaxes #doordashtipsandtricks
Видео Step By Step, Calculating My DoorDash (1099) Taxes. канала Zac's Money FAQs - Investing & Finance Videos
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26 июля 2020 г. 5:56:52
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