Do I need to pay taxes on taxed money coming in on a monthly base
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Do I need to pay taxes on taxed money coming in on a monthly base
It depends on the nature of the income.
Salary/wages under Form W-2 have taxes withheld from each paycheck.
Contractor income has NO money withheld, so you have to make quarterly estimated payments usi.g Form 1040-ES.
Social Security is not taxable if that is your only income.
Pensions will normally witjhpld income taxes for both federal and state if you ask them to.
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