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Above all, consult a reputable accountant for your specific situation, as the information below is not official tax advice. Locums generally work as independent contractors rather than as employees of clinics and hospitals. As such, they are usually responsible for their own taxes, pay quarterly estimated taxes, and cover all their Social Security taxes rather than an employer paying half of their Social Security obligations. Also remember that many states have state income taxes. If an agency or clinic covers the costs of housing, transportation, etc., such is not usually taxable. But if you choose to cover those costs yourself (usually in exchange for a higher hourly rate), you may be able to deduct certain costs as business expenses. Since independent contractors usually lack access to employers' retirement plans (i.e. 401K's), consider a SEP IRA.