Estimated Taxes....

Avatar for firstglimpse
iVillage Member
Registered: 04-08-2003
Estimated Taxes....
3
Mon, 11-22-2010 - 12:34pm

Okay, I've been a contract employee for the past 10 years. They send something to the IRS and I play my taxes in April. I just never really thought about doing the SE taxes. Now my H prepares my taxes & I just sign, so I'm not aware of any penalty for being a contract employee & not paying quarterly.

Anyway - I'm starting a 2nd job. Yes, full time mom & now holding 2 part time jobs - gotta love the economy.

This new company has warned & warned I am a self employed with them & I need to "register" myself as such. Now they are out of the country and I see in the UK you need to register, but I don't see anything here for the USA.

What does concern me is the estimated taxes & quarterly payments before I have even started. Seeing it is nearly December, would anyone know if I need to concern myself with this as of yet? Or could I way until I file my 2010 taxes & get started then?




"Only when we are sick of our sickness shall we cease to be sick."

~ Lao-Tzu, from The Tao Te Cheng
Community Leader
Registered: 04-22-2003
Mon, 11-22-2010 - 5:17pm

My DH is a CPA.

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Community Leader
Registered: 04-22-2003
Tue, 11-23-2010 - 8:56am

My gut response was the same as yours - to wait and deal with it at tax time.

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Avatar for firstglimpse
iVillage Member
Registered: 04-08-2003
Tue, 11-23-2010 - 11:22am

Thanks a bunch. I had found the website before, but still was not sure how to begin the 1st working quarter.

This sucks ... paying before you get money. That is the whole reason I've taken on another job - we have no money. I might just pay the




"Only when we are sick of our sickness shall we cease to be sick."

~ Lao-Tzu, from The Tao Te Cheng