stopped w2 and started a new business

[skfin110]

I just quit job and started a new business (LLC, solely owned) trading only ETFs and futures. What are good tax practices for me in this situation?

[LoriLeighEA]

Welcome to the Event, skfin110!

Congrats on starting your own business! If you expect to owe more than $1000 in federal taxes for the tax year, then you may need to make Estimated Quarterly Tax Payments. Here are some great tools to help you along the way: 

Self-Employment Tax Hub

Estimated Taxes - How to Determine What to Pay and When

and a bonus one for you:

Trader or Investor?

Be sure to track all expenses and income earned related to your LLC through the year.