Posts Tagged ‘Tax Payments’
1099 employee need DBA to avoid tax penalties?
I recently began working for a company in NJ as a 1099 consultant. I live in PA and wondering if I need to get a DBA and make quarterly tax payments. I work solely for the NJ company. I want to avoid having to pay any large penalties at the end of the year. Please advise. Thanks!
Accounting Sites
When making estimated tax payments to the IRS, do I need to include an amount to cover self-employment taxes?
Richard M asked:
I am a self-employed consultant as of this year, so I am responsible for both income and self-employment taxes. If I cover all income taxes due with estimated taxes during the year, but do not include funds to cover SE taxes until I file in 2009, will it appear on my filing next April that I have under-paid, incurring penalties and interest?
Michael
I am a self-employed consultant as of this year, so I am responsible for both income and self-employment taxes. If I cover all income taxes due with estimated taxes during the year, but do not include funds to cover SE taxes until I file in 2009, will it appear on my filing next April that I have under-paid, incurring penalties and interest?
Michael