Legal Question in Business Law in New Jersey

Hello,

I have a question regarding a job that I am starting. They are a small business. For the first 3 months I will be paid in cash and then after that half in cash, half in check. How would I go about claiming this on my taxes? Is this ok to get paid in this way? Are there any problems that this would cause?

Thank you


Asked on 3/13/22, 9:08 am

1 Answer from Attorneys
Tina Nielsen Amodeo, Esq. Tina N Amodeo

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Hello, You can be paid in cash and check by an employer. As far as the cash goes, keep a running tab on how much cash they pay you. Keep a log in writing and a record of your bank deposits if you put the money in the bank. If you make over $600 from them, they have to file a form when they do their taxes and provide you with a 1099 (type of 1099 depends upon if you are an employee or independent contractor) for you to file with your taxes so (1) the income is reported to the IRS AND (2) any taxes that must be paid are paid.

Go to the following link for additional information.

https://www.irs.gov/businesses/small-businesses-self-employed/independent-contractor-self-employed-or-employee

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Answered on 3/15/22, 7:38 am


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