I'm just starting out as an independent contractor (consulting) this year. I had a W2 job until being laid off in May of this year and have received some unemployment payments (and opted to withhold tax). I have yet to receive any income from independent consulting but will have before the end of the year. However, I really do not know how much I will receive before the end of the year. Using the taxcaster, it is estimating a refund of ~$2000 for income earned to date.
What actions do I need to take, if any, for this year? Can I just wait until January to sort it out once I know my actual self-employment income for this year?
Thank you!
