I have recently started earning additional income from usertesting.com. I would believe this income to be classified under self-employment as an "Independent Contractor", therefore meaning that the earnings are subject to not only income tax, but self-employment tax as well. Is this true? If so, would I be required to file estimated quarterly payments to the IRS, regardless of the amount? From what I have read, it seems that I only need to do this if I expect my tax liability to be greater or equal to $1000 and considering each test on usertesting.com only yields about $10/test, I highly doubt that I will approach anywhere near this amount. Am I understanding all of this correctly? Thank you for your time.
