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That has nothing to do with it.
Posted by  JanetK_CA of CA on 2/22/21 3:29pm Msg #629776
If your income as a self-employed individual is above a certain threshold (which I suspect most of us who do this full time would be), you are still supposed to pay quarterly estimated payments, unless you have another source of income that withholds a sufficient portion of that income from regular paychecks. I don't know the particulars because I've been making quarterly payments for as long as I can remember and haven't looked at that in a long while.

I strongly suggest to anyone who hasn't been doing this, that they read up on it as soon as possible.
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Messages in this Thread
 Taxes - feelings screwed this year - Jennifer Mumford on 2/20/21 9:42pm
 Re: Taxes - feelings screwed this year - Carolyn Bodley on 2/20/21 11:46pm
 No, in CA, we can charge per sig notarized, not per stamp. n/m - JanetK_CA on 2/20/21 11:53pm
 Re: No, in CA, we can charge per sig notarized, not per stamp. - Jennifer Mumford on 2/21/21 12:22am
 Yes. You pay SE tax only on what remains after the notary -  MW/VA on 2/21/21 7:40am
 Re: Schedule C - Carolyn Bodley on 2/21/21 8:23am
 Re: Schedule C - Luckydog on 2/21/21 11:05am
 Re: IRS.gov topic 36 Penalty for underpayment of estimated - Carolyn Bodley on 2/21/21 12:22pm
 Topic 306 - Linda_H/FL on 2/21/21 12:30pm
 Re: Topic 306 - Carolyn Bodley on 2/21/21 12:49pm
 Re: Topic 306 - Luckydog on 2/21/21 3:23pm
 Many businesses file quarterly returns along with - Linda_H/FL on 2/21/21 4:37pm
 Re: CPA’s tax program and now TurboTax has always calculated - Carolyn Bodley on 2/21/21 12:52pm
 The IRS can charge a penalty is you owe $1,000 or more. -  MW/VA on 2/21/21 1:49pm
 Re: Topic 306 -  JanetK_CA on 2/21/21 4:46pm
 Re: Definitely easier to make 4 smaller quarterly payments - Carolyn Bodley on 2/21/21 4:56pm
 Re: Topic 306 - Jennifer Mumford on 2/21/21 5:04pm
 Re: Topic 306 - KimmyMD on 2/22/21 8:44am
 Re: Topic 306 - Luckydog on 2/22/21 8:47am
 Re: have never been incorporated; operate as IC dba - Carolyn Bodley on 2/22/21 9:31am
 Re: have never been incorporated; operate as IC dba - Luckydog on 2/22/21 12:48pm
 That has nothing to do with it. -  JanetK_CA on 2/22/21 3:29pm
 Re: That has nothing to do with it. - Luckydog on 2/22/21 6:58pm
 Re: That has nothing to do with it. - Carolyn Bodley on 2/22/21 9:14pm
 Re: Taxes - feelings screwed this year - ananotary on 2/21/21 8:53am
 Re: Taxes - feelings screwed this year -  Cheryl Elliott on 2/21/21 10:49am
 Re: Taxes - feelings screwed this year - Jennifer Mumford on 2/21/21 11:10am
 Don't feel too bad. Last year was really busy & I'm owing -  MW/VA on 2/21/21 1:47pm
 Re: Don - Luckydog on 2/21/21 8:17pm
 Re: You don’t pay your CPA quarterly - you mail $ yourself - Carolyn Bodley on 2/21/21 9:33pm
 Re: You don’t pay your CPA quarterly - you mail $ yourself - KimmyMD on 2/22/21 8:47am
 Re: Taxes Direct pay - Clem/CA on 2/21/21 12:06pm
 Re: Taxes Direct pay - Jennifer Mumford on 2/21/21 5:06pm
 Re: Financial planners, SEPs, IRAs - Carolyn Bodley on 2/21/21 10:03pm
 This ^^^^^^^^^^^^^^^ n/m - ananotary on 2/21/21 10:40pm
 Re: This ^^^^^^^^^^^^^^^ - Luckydog on 2/22/21 8:49am
 Re: Financial planners, SEPs, IRAs -  JanetK_CA on 2/21/21 11:32pm
 Re: Financial planners, SEPs, IRAs - Carolyn Bodley on 2/22/21 7:05am
 Re: 1040-ES - Carolyn Bodley on 2/22/21 8:05am
 Re: 1040-ES -  JanetK_CA on 2/22/21 3:55pm
 Re: must make profit 3 out of 5 years - Carolyn Bodley on 2/22/21 5:19pm
 Re: must make profit 3 out of 5 years - VT_Syrup on 2/22/21 6:07pm
 Re: must make profit 3 out of 5 years - Luckydog on 2/23/21 7:19am



 
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