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You need to pay 15.3% for SS and Medicare, figure out your federal tax bracket and then pay accordingly, i.e., are you married, single, children?, etc., whatever tax bracket you are in and estimate your federal taxes, usually around 15% of your income. If Arizona has state income tax, you will need to allow for that. State and federal need to be paid quarterly. You can pull the forms off line. So, 15.3% SS and medicare, 15% for federal, plus state taxes, if any, and that should about do it. Have fun writing those checks! Again, you need to figure out your federal income tax bracket first. |
Here is a rough estimate.......sm - MsMt
