I'm in Illinois - just started working part time under 20 hours a week (@ or under min wage depending on # of calls I get) as an independent contractor - do I file taxes quarterly or yearly? I have only ever been a W2 employee, so this is all so new to me! Do I need special forms? I heard about estimated taxes - how do I estimate 20%, 50% - how am I supposed to figure all this out? I can't afford an accountant on this salary - help!
