- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
What to do when you've worked as a contractor and was hired as regular employee?
I'm currently residing in Nevada. My employer gave me w9 and I worked as a contractor for 2 months.I earned about $4000 or less during those 2 months.I am now their regular employee and signed a W4. My question is, do I need to pay quarterly taxes for 2 months of being a contractor?
June 4, 2019
3:00 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
For 2019, you have a couple of choices:
1) You could make a quarterly tax payment for the 1st quarter of 2019 that would be due April 15, 2019 for taxes on the $4,000 of income you received for the first two months of 2019. Then, since you are now a W-2 employee, you would not need to make additional quarterly payments for the remainder of the year. See the link below for how to generate 1040ES forms for 2019 in TurboTax.
[Edited 3-28-19]5:43pm
June 4, 2019
3:00 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Thank you. I forgot to indicate that I started as a contractor last January 3, 2019 up to March 15, 2019. I signed W4 for the same company on March 15, 2019. Now I'm confused and worried at the same time. Do i need to pay quarterly (divide taxes) from $4000 I earned in total for those 2 months or Do I have to pay the taxes in full this April which believe the 1st quarter for paying quarterly taxes?
June 4, 2019
3:00 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Ok. Thanks for the clarification that you are talking about 2019! I have revamped my answer above, so please go back to it to see a couple options for handing the taxes for 2019.
June 4, 2019
3:01 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Wow! Thank you so much! Good thing I didn't hesitate to ask question on this page. Again, than you for your help. I appreciate it a lot!
June 4, 2019
3:01 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
One last question. With $4000 how much in total do I have to pay for quarter tax this April?I'm confused with income and self employement tax in Nevada . Thank you so much
June 4, 2019
3:01 PM