Americans born in 1960 or later won't reach Full Retirement Age (FRA) the point at which they can collect full retirement benefits from Social Security until age 67. For every year that you.
In 2015, I got really serious with my side hustle and ended up earning well over $30,000. While I was proud of the extra money I d made, I realized I d made one major mistake when tax season rolled around not closely tracking my income or expenses. I was so excited about making money with a side hustle, but I paid for it the following spring by spending hours trying to organize my financial documents and data.
Not tracking my income meant not knowing how much tax I might owe
As a freelancer or contractor, I did receive a few 1099 forms from companies I worked for. As long as you earn $600 or more as a contractor, it s a requirement that companies send you a 1099 form stating how much you earned; this also gets sent to the IRS.