The United States has a “pay as you go” tax system in which estimated tax payments are made to the IRS throughout the year. This is an area that often trips up self-employed workers. Let’s go over what you need to know for paying estimated taxes.
Tags: Estimated Taxes
Being your own boss is great. It also means your taxes can be more complex. This self employment tax guide walks you through the self employment tax basics of what to expect. We’ll also spotlight some valuable deductions that could lower your tax bill.
If you’re a self-employed, a freelancer or a small business owner, you’ll likely have to pay estimated taxes on a quarterly basis. We’ve put together a few tips for paying estimated taxes. We’ve also included some help on figuring out how much your tax bill will be.