For those of us who have general handyman-type tasks around the house that need to be finished, a great source of cheap labor can be found in hiring college students. These young men and women are looking for extra spending money, or even a boost for tuition costs. They are flexible and often quite motivated.

In the 2009 economy, there is an excess of college students looking for paying jobs. Whether you need lawn care, dog walking, or computer trouble-shooting, you are likely to get a response from a number of qualified candidates. You may be able to pay less than if you hired a professional.

Those are a few of the upsides. Nonetheless, there are several matters you should keep in mind before you post a "help wanted" ad.

When hiring a college student to do odd jobs, keep the following legal factors in mind: (1) citizenship; (2) an independent contractor agreement; (3) potential insurance; and (4) employment taxes. You have likely heard about people getting paid "under the table." Not only is this illegal for both the employer and the employee, but you could run into other issues without entering into an independent contractor agreement, or formal employment agreement.

There are many venues through which you can connect with college students looking for a short-term job. Craig's List is an excellent, free site, and you can advertise in a number of markets. It also gives you the opportunity to be "anonymous." No one gets your direct contact information. Beyond Craig's List, many newspapers have on-line classifieds (as well as print); cost varies. Reach out more directly by advertising in college publications, and by posting want ads on bulletin boards where kids hang out (coffee shops, Internet cafes, etc.) In addition, there are associated businesses who only use college students so your worries of hiring them directly are gone. One such professional company, called College Works Painting, hires enrolled students to paint your home.

If you are active in the social media world, try posting an ad on MySpace, Facebook and/or Twittering the request. Many young, potential employees are on the Internet.

Word of mouth may spread quickly. Include a brief overview of the job you need completed, the location and time frame. You may wish to leave out specific compensation, as it could be negotiated, particularly if you have several candidates to interview.

Any person that will be bringing a stranger into their home should do an interview and a background check. Would you want to bring in an employee with a criminal record? What if the candidate is a scam artist? The temptation may be to be a little less concerned when it comes to hiring a college student for a specific project, or a few odd jobs. Most definitely, it is better to be safe than sorry. Consider using a site like backgroundchecks.com.

Two very important items to verify are (1) citizenship and (2) age. You should be able to confirm that the person you are about to hire is, in fact, a college student by checking with the admissions department. But privacy laws may prevent obtaining information on age and citizenship directly from the school. During the interview process, require your potential employee to fill out an I-9 form and ask to see their drivers' license. With respect to age, child labor laws may restrict certain working hours and types of employment for persons under age 18.

Unless you hire a college student as an independent contractor, be prepared on the income tax side. As an employer, you will have to obtain an Employer Identification Number (EIN) and will be required to withhold taxes on the wages of your employee(s). This is easier to do than it sounds, and very critical!

The bottom line: Do not risk potential legal problems of your own in a rush to save a few bucks. Shortcuts are the quickest way to a potential long legal battle.

So, you found a great candidate, ran your checks and verified citizenship and age. Before you have him or her get to work, be sure to get a signed agreement concerning the terms of employment.

Items that should be agreed upon include: (1) whether you or the employee will be responsible for taxes (independent contractor agreements often specify that the worker will withhold and pay to the IRS taxes on their wages/compensation; (2) insurance issues - what happens if the college student slips and falls on your property? Will he or she get bonded so that you can seek reimbursement for any damage that may result from the work? (3) any confidentiality provisions that may apply - particularly if they are helping with sensitive, proprietary information; (4) length of employment; and (5) method, frequency and amount of compensation.

See this link for a sample Independent Contractor Agreement

See this link for a sample Employment Agreement

As with any legal matter, you should consider hiring an attorney to review any documents before signing.

If you've had any great (or negative) experiences in hiring college students, please be sure to share in the comments below.