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Hi beg121557, thanks for posting an event question.
Congrats on established a Single Member LLC and became self employed on April 1, 2023.
A single-member LLC is generally disregarded and not treated as an entity separate from its owner for
federal income tax purposes.
In general, a single-member LLC owned by an individual files Schedule C, Profit or Loss from Business within your individual income tax return. You report out-of-pocket expenses in running your business, but you do NOT pay yourself as a "contractor". Your "net income" from gross revenue less out of pocket expenses is subject to income tax and self employment tax.
Here is links of Schedule C and its instructions for your reference.
https://www.irs.gov/forms-pubs/about-schedule-c-form-1040
Please refer to
Pay As You Go, So You Won't owe: A Guide to Withholding, Estimated Taxes, and Ways to Avoid the Estimated Tax Penalty
There are many steps to calculate how much to pay the quarterly estimated taxes for your self employment. You are welcome to call us for more assistance.
How do I contact TurboTax?
Hope the above helps.
Thank you,
Kitty
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