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Andrew Schwartz, CPA
Feb 3, 2007 - 1:44PM
Re: honorarium

When you get paid honoraria for giving a talk, that income is considered self-employment income to you, and you should report it on a Schedule C. You can then write off any related professional expenses directly against that income.

You will owe social security and Medicare taxes on that income. You'll need to report those taxes on a Schedule SE, which you'll complete and attach to your federal income tax return.

You definitely do not report those taxes on a Form 4137. Restaurant and beauty shop employees use that form to report and pay social security taxes on their tip income.

Zip Code: 01801

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