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Taxes as a newly self-employed independent contractor
I am a newly self-employed independent contractor established as a sole prop. I did earn a paycheck via employment, in which taxes were already deducted, for a short term at the beginning of the year.
1) From what I read online, I understand that I should pay my taxes quarterly. Is this accurate?
2) How do I go about doing that? Can I pay them quarterly via TurboTax using my already established account?
3) What forms do I need? Assuming I can use TurboTax, will I be walked through step-by-step?
4) In general, I need all the guidance I can get on this. I have no idea how to approach my taxes, how much I should be paying, how much to put aside, etc....all the things!
May 24, 2023
11:29 AM