My friend has been working in a bar but she gets paid cash.How can she go about paying taxes on this money?
She is 21 and currently going to college and needed to make some cash for school.She has worked for about 10 months and is scared that she will get in trouble with the irs and wants to make sure that she can pay the taxes in what she has earned.Any info would be great
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She’ll file a form 1040, a schedule C and a schedule SE. She should be keeping very good track of her income. She should actually be paid as an employee rather than as a contractor or “under the table”, but that’s another question.
she wont get into any real trouble if she pays her share of her taxes.
the problem i see is that she is not an independent contractor and therefore should not have to pay both halves of social security and medicare tax.
she could do what the first poster said, but that’s just unfair to have to pay what here boss should pay. also, i am not too sure its even legal to do that. now, if she really is an independent contractor, then go ahead. just do that.