astarr
Returning Member

First year as independent contractor. Need to pay estimated quarterly taxes?

Hi, 

 

In 2022, my income will be about 8000 from an employer and 80,000 as an independent contractor for multiple groups. I've been saving to pay my entire tax bill (which I estimate at about $14,000) when I file in early 2023, but recently learned that I might need to pay estimated taxes quarterly to avoid a penalty. 

 

Can I pay all my income taxes when I file in 2023, or do I need to start making quarterly payments now? 

 

Thanks,

Ann (filing as married filing jointly)