Thank you so much to everyone who participated! We appreciate you sharing your experiences with our community. A winner will be randomly selected and contacted to claim their prize.
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A friendly welcome to our new and returning community members!
We’re excited to share another sweepstakes and another chance to win a $100 gift card with you. This month, we’re discussing Self-Employed Quarterly Filing.
Self-employed individuals are required to file quarterly taxes to ensure they meet their tax obligations throughout the year. Unlike traditional employees, who have taxes withheld from their paychecks, self-employed workers must estimate and pay their taxes quarterly based on their anticipated income. This typically involves calculating income tax and self-employment tax, which covers Social Security and Medicare contributions. Filing quarterly taxes helps avoid a hefty tax bill at the end of the year and minimizes the risk of penalties for underpayment. It’s essential for self-employed individuals to keep accurate records of their income and expenses, as this information is crucial for making accurate estimates and filing tax returns.
Now that we know what self-employed quarterly filing is, imagine individuals tackling quarterly taxes alone. It can be a bit daunting and even feel like they’re in an episode of a reality show titled "Survivor: Tax Edition." Instead of dodging tribal councils, they’re dodging the overwhelming dread of calculating estimated taxes. Picture this: you're sitting at your desk, calculator in hand, frantically sifting through receipts like a contestant searching for hidden immunity idols. As you calculate your self-employment tax, you can almost hear the dramatic music playing in the background. But fear not! Filing quarterly taxes isn't just about avoiding a surprise tax bill; it's also a chance to flex those math muscles you didn’t know you had. Just remember, your tax deductions are like secret weapons—use them wisely, and you might just conquer the tax jungle without having to resort to bartering with coconuts!
For some, self-employed quarterly filing may be confusing, for others, the estimations help build confidence. While there are many individuals that plan to tackle this task on their own, there are some that would prefer to have a TurboTax Tax Expert help them navigate uncertain waters. That’s why this month we're asking, how has using a Tax Expert’s advice made your process easier? Or if you have decided not to use one of our Tax Experts, please share why. Anyone who shares their opinion or experience below will be entered into a sweepstakes for a $100 gift card. A winner will be randomly selected on August 28, 2024.
If you have questions about how Self-Employed Quarterly Filing can affect your taxes, please join us for a LIVE Q&A with our Tax Experts on Wednesday, August 28th any time between 9:00am and 5:00pm Pacific Time This will be the perfect time to ask Tax and Financial Experts your questions and get advice about taxes and personal finance, for free! Learn more and RSVP here.
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We will be hosting the Self-Employed Quarterly Filing sweepstakes to give you, and others, the opportunity to share your experiences. One lucky winner will be chosen randomly to receive a $100 gift card.
- WHAT: Sweepstakes for a $100 gift card
- WHEN: Entries will be accepted from August 21, 2024 through August 28, 2024 at 5:00 pm Pacific Time
- HOW: Enter by adding a comment to this post sharing your opinion or experience with using a Tax Expert to help file your taxes or if you have not used one of our Tax Experts, you could share why. If you are the winner, we will send you a private message. The winner will be selected at random on Aug 28, 2024
