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?
01482
1 Replies
EricE_CPA
Expert Alumni
Aug 31, 2022 3:16:05 PM
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.