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Independent contractor

Will I need to make estimated tax payments this year if I only have about $3500 income from self employment? And can I still take the standard deduction when filing my return?

1 Reply
EricE_CPA
Expert Alumni

Independent contractor

Individuals, including sole proprietors, partners, and S corporation shareholders, generally have to make estimated tax payments if they expect to owe tax of $1,000 or more when their return is filed.

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