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Quarterly Payments
Hey there!
One final question- as a freelancer, am I expected to pay both FICA and federal income taxes quarterly? So, 27.3% (15.3 + 12% after my tax bracket) as well as the additional $1100 before the annual April filing? I’ve only paid FICA thus far, unaware of the rest until today. Will I be penalized heavily if this is considered a late payment?
August 30, 2023
4:13 PM