Filing quarterly taxes

[Quincy333]

I have worked for Spark & DoorDash. I know that I have paid what I owe to the IRS for the 2023 tax year via the IRS direct pay website which was $57 however I did not finish filing for that tax year after doing so, hopefully that won’t penalize me. For 2024 from Jan 1st to May 5th I made a total of $2,866.72 working for Spark delivery, that’s without deducting expenses. For 2024 from Jan 1st to Mar 31st I made a total of $302.58 working for DoorDash, without deducting expenses. I no longer work for either of the companies & now have government employment which requires filing a standard W2. Should I be filing quarterly taxes for the money I made while working for Spark delivery & DoorDash? What tools would you recommend using in order to get a precise amount that I owe to the IRS & state? Thanks a million!

[marctu · Accepted solution]

So first things first, file the tax return(s) today.  This will mitigate any penalties for late filing and late payment if the payment you made did not fully cover your tax liability.   

So use this tool:  Track self-employed expenses year-round with TurboTax Expense Monitor 

If this is the only income for the year, which is not even accounting for expenses, then your total income is approximately $3,200.  With the standard deduction if you are single being $14,600 you would only have self-employment tax liability.  Self-Employment ("SE") tax is 15.3% of 92.35% of SE net income. 

You should consider making estimated tax payments, but your total liability for the year is less then $1,000, so it is not absolutely necessary (Again this assumes this is your only income). 

Thank you so much for your question  

Be well and safe!

Marc T.

Turbo Tax Expert

27 Years of Experience Helping Clients