15th of April, June, September, January. sm

15th of April, June, September, January. sm [2007-04-07]
The IRS sends a worksheet to help you figure out what your quarterly payments should be. Try their website www.irs.gov as that should be able to point you in the right direction. It's been so long that I had to figure this out that I've forgotten more than I remember.

New to IC status and unsure about taxes... [2008-05-16]
Hi, I have been with a great company since March 25 as an IC. I currently work for another company flex part-time as an employee, but want to quit them very soon! I have never worked as an IC before, so completely unsure about how to handle the taxes. I live in Illinois and was told by HR Block to take out 30% from my pay, but I am not sure this is right, seems a bit high to me. I was also told by a friend 22% for federal and 8% for state (but she lives in Wisconsin)which figures out to 30%, she thought HR Block was right, too. I am completely clueless what I need to set aside and do I need to pay this quarterly or wait until tax time? The company does take out SS so I do not have to worry about this. And do I figure this tax after SS is taken out or the total check. So far, I am very part-time, but plan to go full-time when Iquit my other part-time,and have not begun to do this as I figure I would be okay for now. I am paid every 2 weeks and got my first check in April. I will probably be claiming head of household next year, too, with 1 dependent. Any advice would be appreciated from those of you who arefamiliar working as an IC. Any other IC advice is welcome, too, such as what I can deductions I claim at tax time, etc. Thanks!

I know many, many who pay only yearly taxes [2007-06-12]
There might be a small penalty if you don As long as the tax guy gets his money he is not going to come after our little amount and if you pay the penalty, he doesn I usually do twice a year when I don I also know of at least 10 friends who are painters, contractors, beauticians, etc. and they don But it is up to you to have the money at the end of the year. That is where it comes in to play and that is why I usually send in June and December so that I don It would be no different than if you were an employee and did not have enough withheld -- then you pay by the 15th and sometimes have a penalty but you pay -- IRS is happy.

15% would be your federal and 5-10% your state tax [2007-05-08]
You can get your own forms and file them.....just go to IRS.gov and find the 1040-ES forms and print them out. Next one due June 15th. Figure your taxes, write a check and send it off.

Help w/ taxes [2007-04-27]
Sorry if this shows up twice, but I'm not sure it went through the first time. I had asked if anyone could point me in the right direction with paying taxes as an IC. I just started in January. I know I have to pay quarterly taxes and that I'm a little late for April, but I have no idea where to start, I don't want a tax preparer and the IRS site is confusing! Does anyone know which forms I need for this? It looks like I need 1040 schedule C and probably something else...I'd appreciate any help!!

New IC, when to send in quarterly taxes? [2007-04-05]
Heard sometime in April. Thanks.

IC paying taxes [2007-03-31]
I do IC work part-time, about $600 a month. Do I need to file quarterly taxed with the feds and Social Security, or can I just settle up when I file my 2007 next January? Thanks in advance for any info.