as Dr LJ

[gsh]

Say I do a bit of friendly contracting for someone, and get a few thousand dollars as pay. I'm given a check for X dollars, and neither fed taxes nor social security are taken out. I can figure out how to get this income declared on my 1040 fed return. What do I need to do to make sure my social security and other "payroll" taxes are paid legally?

Comments

[grail76.livejournal.com]

The issue is are the taxes paid. You can do the quarterly tax payments OR you can have the withholding on your regular pay check raised so that at the end of the year you have the taxes taken care of.
If it was in 2009, you add it in as income and pay the difference. You need to set up 2010 to account for any such outside jobs you take that into account with either higher withholding or with the quarterly tax payments.

[gsh]

Thank you