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Level 2
August 30, 2023
Question

Quarterly estimated taxes - unemployed for a period

I left my full-time W2 job in February of this year, but began my own business (Single member LLC filed as S-Corp) in March. Did not begin earning an income (even small), however, until July of this year. Do I still need to pay estimated quarterly taxes? 

1 reply

RegenayuAuthor
Level 2
August 30, 2023

I should add that the business is a freelance design company.