Hello,
I started working full-time as a contractor on 1099 earlier this year. It is my only source of income. I just registered as a sole-proprietor LLC and will be filing my first quarterly taxes in September.
Since it is a new business my income is growing quite a bit from one quarter to another. Is there a recommendation on how to estimate my income and tax payments? Will I be penalized if I over- or under-estimate my revenue?
Best,
Coumba
