Hello @Potatoforsale. Congratulations on starting your Doordash business this year. Depending on the net income from your Doordash business in 2023 (income minus expenses), you may or may not need to pay estimated tax payments for 2023. In order to help you estimate what your 2023 tax liability will be, you can use TaxCaster at https://turbotax.intuit.com/tax-tools/
You would need to pay quarterly estimated taxes if
- you expect to owe at least $1,000 in tax for the current tax year after subtracting your withholding and refundable credits.
- You expect your withholding and refundable credits to be less than the smaller of:
- 90% of the tax to be shown on your current year’s tax return, or
- 100% of the tax shown on your prior year’s tax return. (Your prior year tax return must cover all 12 months.
If you need to file estimated taxes you can pay them directly to the IRS at https://www.irs.gov/payments on Form 1040-ES.
Doordash should send you an end-of-year statement that shows your total income and miles driven. You would include tips in your total income figure on your tax return.
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