How do you pay taxes for yourself if your boss is not taking any from your pay.?

Question

How do you pay taxes for yourself if your boss is not taking any from your pay.?

Answer 1

Fill out the form at the appropiate time and pay the amount you owe.  You might consider paying quarterly also,  if you make enough.  Call the IRS and ask some questions and have them to send you information on this or look the IRS up on the net.  Those questions might be answered there.

Answer 2

Go to a tax professional and take all of your paystubs for the year and let them help you sort it out. They will know what your best option is, it's their job

Answer 3

Your boss is not taking any from your pay?  I have a flash for you: You are your boss.  Either that or you are being hosed!

I have a canned explanation for apparently clueless independent contractors and, if you are asking this relatively simple questions in this forum, no offense, but you qualify as clueless:

Some employers try to get around paying employment taxes (social security and unemployment) and other employee benefits like workers compensation insurance by improperly classifying employees as independent contractors. The basic issue is the amount of control the employer has over the worker.  If you are an independent contractor, the employer can dictate what the final product looks like but not how you get there to produce it. If you are required to show up for work--personally--at a particular time, punch the clock, use the employer’s equipment and are paid an hourly rate, or another set rate based on time served, you are an employee.  If you didn't understand the difference when you posed your question, I would be even more convinced that you are an employee. What is your preference, Slotted or Phillips?  Complete an IRS Form SS-8 to get an official ruling on your status.  This will help you get unemployment if you get fired. When you file your income tax return, you can attach Form 8919 Uncollected Social Security and Medicare Tax on Wages and only pay the employee's half of social security.  You will still have to cough up all the income tax. IRS and the states are stepping up enforcement in this abuse area.

Answer 4

If you believe you will owe more than $1000 in the year, you need to make estimated tax payments.

Fill out this quarterly http://www.irs.gov/pub/irs-pdf/f1040es.p...

and include the payment. Make sure your SSN and name are on the form.

Answer 5

Figure out what you think you will owe for the year and then file a 1040ES form with the amount you think is due.   The forms and instructions are available for downloading on the IRS website.

Answer 6

You'll fi le a schedule C or C-EZ showing your income and any associated allowable expenses, and a schedule SE to calculate your self-employment tax, and a form 1040.

Depending on what your job is, your boss might be doing things illegally by paying you this way.  If he or she sets your hours and place of work, and pays you an hourly rate, you are an employee and they should be taking out taxes.