My employer doesn't hold out taxes.

[Dixiecup]

I work full time in a rural clinic setting and love it. But I also work part time at a local urgent care for exta money and the money is outstanding.

On problem.......my employer doesn't hold taxes out of my check (the urgent care). At the end of the year at income tax time I am going to be screwed. I think I am going to have my full time employer hold out more but how much more and it might even out. How much more do you think I should holdd out?

My urgent care boss says he claims me as contracted help and doesn't have to hold out taxes.

[caliotter3]

Get any of the IRS booklets on the subject, Publication 17 has everything in it, and read up on the situation. You probably need to start making quarterly estimated tax payments. These are required of anyone whose employers are not withholding enough or who have other complicating situations that cause increased tax liabilities. If you have any questions, give the IRS a call, they will be happy to assist you.

[core0]

I work full time in a rural clinic setting and love it. But I also work part time at a local urgent care for exta money and the money is outstanding.

On problem.......my employer doesn't hold taxes out of my check (the urgent care). At the end of the year at income tax time I am going to be screwed. I think I am going to have my full time employer hold out more but how much more and it might even out. How much more do you think I should holdd out?

My urgent care boss says he claims me as contracted help and doesn't have to hold out taxes.

You can take a look at this. One of the issues is you have to pay both halves of Social security.

http://www.nolo.com/legal-encyclopedia/faqEditorial-29070-2.html;jsessionid=DCEE2D2341BE12702229FC6B626CDF7E

This is probably an area where you want to have an accountant to guide you through the process and to help with taxes and deductions.

David Carpenter, PA-C