Here's the scenario
1) I am not confirmed yet.....
2) I was able to pick up some consulting work and made about $6000.00
3) The company I did the work for will issue me a 1099 so no taxes will be taken out
4) I am intending on reporting this income to the trustee via my nearly useless atty.
5) and finally It is unlikely that I will be paid prior to my 3rd confirmation hearing!
the questions I have is
a) do I report the full amount pre taxes? and advise that this is pre tax income?? ( I know I will have to pay about 40% in taxes remember this is 1099 and will have to pay double SS taxes too!)
b) do I advise the post tax amount
c) should I just put it in my income for 2010 taxes after I pay the taxes I owe then give her all funds when I file in April???
d) or just send her a cashiers check for the post tax income and say nothing?
Also seeing as I already have a "plan" do I wait until after confirmation??
ps trustee wants all tax refunds, all pay increases, all bonuses, so I will be paying to the trustee one way or another. (it almost feels like I am being set up to fail..... ).
and I DESPISE my atty and will be firing her when I am finally confirmed and reporting her to the bar association.... (read some of my other posts!)
1) I am not confirmed yet.....
2) I was able to pick up some consulting work and made about $6000.00
3) The company I did the work for will issue me a 1099 so no taxes will be taken out
4) I am intending on reporting this income to the trustee via my nearly useless atty.
5) and finally It is unlikely that I will be paid prior to my 3rd confirmation hearing!
the questions I have is
a) do I report the full amount pre taxes? and advise that this is pre tax income?? ( I know I will have to pay about 40% in taxes remember this is 1099 and will have to pay double SS taxes too!)
b) do I advise the post tax amount
c) should I just put it in my income for 2010 taxes after I pay the taxes I owe then give her all funds when I file in April???
d) or just send her a cashiers check for the post tax income and say nothing?
Also seeing as I already have a "plan" do I wait until after confirmation??
ps trustee wants all tax refunds, all pay increases, all bonuses, so I will be paying to the trustee one way or another. (it almost feels like I am being set up to fail..... ).
and I DESPISE my atty and will be firing her when I am finally confirmed and reporting her to the bar association.... (read some of my other posts!)
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