Tax questions?

Question

I have a temp job at a hotel where they do not take taxes out. I heard you can pay your taxes quartley so you don't have to do it all at the end of the year. Does anyone know how I go about doing this. Or who I can call. Thank you.

Answer 1

The big question though with the taxes is are they treating you as an employee or as a contract worker? If an employee, then they would have to take out social security and medicare taxes out of your paycheck, and you would be responsible for federal and state withholding. If as a contract worker than you would need to pay quarterly estimates. I have included a link for federal estimates, but you would need to contact your states department of revenue for quarterly estimates.

Answer 2

IRS form 1040ES and state equivalent.
You will have to file tax returns at year end to see if your estimate was right
Be careful.
If your employer is not taking out tax they may not be taking out soc security neither
meaning you will be considered self employed and liable for your your own soc security tax meaning you will owe a lot at year end

Answer 3

The following link will give you directions and the vouchers necessary to submit quarterly estimated tax payments.

http://www.irs.gov/pub/irs-pdf/f1040es.pdf

Answer 4

Anyone who does taxes would be able to handle this for you, if you don't want to try to do it yourself. Look in the yellow pages - any accountant could do it.

You can download form 1040ES and instructions at irs.gov if you want to look at it yourself first.