- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
The short answer is yes and no. Typically food delivery drivers and similar will have a great deduction if they actually track their mileage. However, is all about the profit at the end of the year combined with your other income, what will be making the difference if you pay estimated tax payments or not. What the IRS look at is the total tax liability (line 24 of the 1040 or 1040-SR). If it is more than a $1,000 and you didn't have enough withholding from your pension to cover for it, then you either must make estimated tax payments, or adjust the withholding from your other sources of income like your pension, to make up for the difference.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎August 28, 2024
2:12 PM