My tax deductions with be more than my income for 2008, do i have ...

Question by summit : My tax deductions with be more than my income for 2008, do i have to pay taxes ?
I work as in independent contractor and use the mileage method deductions. At 50 cents a mile, i will be able to deduct more than my income, it will appear as if i had a net loss. Do i have to pay any quiet self employment taxes or any other taxes? Best answer:
Answer by

joseph.hussein.foust
You still have to FILE a tax return, but you may not owe any taxes. You may want to double-check your math, though!

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