topic Re: Self employment in Self employed

Self employment

newbie58 — Tue, 24 Feb 2026 07:04:06 GMT

I worked the first 2 1/2 months this year before retiring. But, I am still helping out my old Colorado company as a contract employee. The net income is about $300 per month.

I'm confused about quarterly taxes and tax rates .. I haven't paid a quarterly tax anywhere yet, so I'm guessing I'm behind?

Re: Self employment

RPZ1 — Wed, 30 Aug 2023 17:43:27 GMT

Hello,

I will post a good link that will give you the details you are looking for. You should make the payments foe April and June as soon as possible. You might avoid paying a penalty to the IRS by doing so. https://turbotax.intuit.com/tax-tips/self-employment-taxes/a-guide-to-paying-quarterly-taxes/L6p8C53xQ The estimated taxes are based on gross pay.

Re: Self employment

newbie58 — Wed, 30 Aug 2023 17:47:52 GMT

Thank you .. I may be back! 🙂

Re: Self employment

newbie58 — Wed, 30 Aug 2023 17:50:57 GMT

Can I deduct mileage as a business expense if I'm self-employed?

Re: Self employment

RPZ1 — Wed, 30 Aug 2023 18:02:40 GMT

That depends on the circumstances. Here are a few more links that will help with that: https://turbotax.intuit.com/tax-tips/small-business-taxes/taking-business-tax-deductions/L5RueYPVS

https://turbotax.intuit.com/tax-tips/small-business-taxes/business-use-of-vehicles/L6hi0zzzh.

Generally, you are able to deduct the mileage but there requirements to be met.

Re: Self employment

newbie58 — Wed, 30 Aug 2023 18:14:18 GMT

Thank you!