Posted By: MIMT on 2008-01-01
In Reply to: If you work another FT job where they do withhold taxes you should be ok...sm - msdonnie

I believe you are technically supposed to pay quarterly if you are self-employed/IC.  As someone mentioned above, I think it's more so you don't get hit with a huge sum at the end of the year.  The IRS really has no way of knowing whether you are self-employed until tax season comes around though, and as long as you are paying what you are supposed to and filing when you are supposed to, I don't see where it would be a big deal to pay it all at once.  Just keep in mind that there is a separate SE tax on top of federal taxes...that can get some people in trouble because they underestimate how much it will be.

Reply By E-mail || Post QUICK reply        [ See Related Messages ]

• IC paying taxes - typ4food (Views: 340, 2007-03-31)
  • Taxes - momof6 (Views: 250, 2007-03-31)
  • If you work another FT job where they do withhold taxes you should be ok...sm - msdonnie (Views: 220, 2007-03-31)
    • quarterly payments if you make more than $600 per quarter - MIMT