Independent contractor - taxes?

[Travis]

My wife is being rehired for the next couple months by her former employer as a contractor rather than a traditional employee. I know that means we'll have to calculate and file her taxes next year ourselves, but is there anything she needs to do in the meantime?

[bacchi]

Register here: eftps.gov

Open a solo 401k. This may require an LLC/Corp.

[Travis]

Even if it's for a three month job and she may never work as a contractor again?

[DevoCPA]

Just increase your withholding to cover her income and self employment tax. Keep track of her business expenses.

[I'm a red panda]

Make sure to pay quarterly estimate taxes. You can be charged a penalty if you only file at the end of the year.

[DevoCPA]

Not if its withholding. Withholding is considered paid evenly throughout the year even if you just do it on your last paycheck.