1099 Tax questions Do I need to pay annually or quarterly, when and how do I calculate how much I owe?
1099 Tax questions Do I need to pay annually or quarterly, when and how do I calculate how much I owe?
I have been employeed at my current company for almost two years. The first year, I started out as a contractor then became a full time employee, then again I went back to being a contractor. When I filed my taxes last time, I didn't owe any money.
Currently, I am still a contractor, but I am wondering if I can pay annually like I would normally on a 1040 or if I have to pay quarterly? If I do have to pay quarterly, how do I find out the dates of when taxes are due and also, how much I owe?
Thank you!
Answers:
Chosen Answer
Badger Boise: Estimated taxes should be paid quarterly by or before the last day of the following months; MAR,JUN,SEP,DEC. You can get the worksheet and all the necessary info from the below IRS PUB 505.
2010-03-05 11:35:08
Badger Boise: Estimated taxes should be paid quarterly by or before the last day of the following months; MAR,JUN,SEP,DEC. You can get the worksheet and all the necessary info from the below IRS PUB 505.
2010-03-05 11:35:08