Taxes for Independent Contractors: Resources for Substitute Teachers

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Independent contractors complete the 1099 tax form.

As a Swing substitute teacher, you are an independent contractor rather than a direct employee of Swing Education, which means there are some significant differences in how you are expected to organize, track, report, and pay your taxable income to the IRS.

Here’s an overview of some of those differences, as well as several resources you might find helpful for tax season.

Tax Withholdings

When you begin earning money as an independent contractor, you essentially become a business-of-one. As an independent contractor, you are paid the full amount listed on the assignments you work, and no taxes are withheld.  

Unfortunately, this does not remove your tax burden. Rather, it means you are required to report your income and pay your taxes directly to the IRS. Generally, you are required to file an annual return and pay estimated tax quarterly.  

Quarterly Taxes

If you expect to owe more than $1,000 in taxes for the year for your contracting work, then you may need to pay quarterly taxes. If you don’t pay quarterly when you should, you could face a 6-8% penalty on the amount you underpaid.

Here’s a helpful rundown of quarterly taxes from our partners at Stride Tax.

Deducting Expenses

As an independent contractor, you may be able to deduct business-related expenses, such as mileage traveled or school supplies. Here’s a list of common 1099 tax deductions.

Helpful Links

NOTE: Swing Education and its affiliates do not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.

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