- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
You actually had plenty of room to enter all your details if you would have gone down to the box below where you posted the first part of your question. Sounds like your friend is treating you as an independent contractor instead of as a W-2 employee, which means they are not going to withhold Social Security, Medicare or tax. When you are self-employed (which is how the IRS will regard you) you have to pay those for yourself. To avoid a big tax bill at tax time, you might want to pay some estimated taxes during 2021.
Get things clear with the friend you are working with/for and find out if he will be providing you with a 1099NEC at tax time next year. If you are spending money on tools, supplies, equipment, etc. to use on the job, keep track of your expenses. Or keep track of any business related mileage --commuting to and from work does not count.
Since you are an independent contractor, you will be paying self-employment tax as well as ordinary income tax.
https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922
https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax
https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs
https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct
https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c