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. |
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 |