Earlier this year, I was hired as an Independent Contractor for a Remote Medical Coding Company, so I will be receiving a 1099 at the end of the year. How do I figure what my taxes will be so that I can put aside that amount each month when I get paid? Also, do I need to be submitted quarterly payments to the IRS already? I've read that you can be penalized if you don't.
Use TurboTax TaxCaster Calculator (free tool to calculate what will be your expected tax liability)
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