Posted by Sunny Notary/WA on 1/25/05 5:48pm
Msg #18101

Do we have to file our tax return quarterly...

as an independent contractor, do we have to file taxes quarterly or is that a whole different ball game? This will be my first year filing for signings.

Reply by Jon on 1/25/05 6:42pm
Msg #18113

There are many considerations in making that decision. You should consult a tax professional to get specific answers to YOUR situation. While the posters on this board mean well, their circumstances are different than yours and may require different action.

Reply by Jon on 1/25/05 6:56pm
Msg #18114

Clarification

"Do we have to file our tax return quarterly..." I am assuming that you are referencing paying quarterly taxes. We do not have to file quarterly tax returns, only one a year.

Reply by Sunny Notary/WA on 1/25/05 6:58pm
Msg #18115

Re: Clarification

Yes, I meant paying taxes quarterly. Thank you!

Reply by Nd_WA on 1/25/05 7:14pm
Msg #18121

There is an IRS work sheet for self-employment to see if you qualify for annual payment. I Don't remember which form, but there is a limit where you have to pay quarterly tax if you are over that.

Reply by Joseph on 1/25/05 8:04pm
Msg #18124

If you owe more than 1000.00 of selfemployment tax you shoud have made payment for the
2004 tax year on April 15, June 15 Sept 15 and Jan 15 2005 for the 2004 tax year.