Quarterly Payments as a gig worker

[Cameron_SK]

Hi, I owed taxes this year for last year's income, and my only source of income is from gig work. 

I took a 3 month break for mental health, and did not start working until May 1st of this year. So far my total income from May 1st up until now (August 30th) has been $8,781.40 and the total deductions I've kept track with Stride is $4.375.90

I have two options for the remainder of the year:

1) Continue working until I reach $12,950 and not owe taxes 

2) Continue working and owe whatever amount come next year when I file. 

Will I be penalized for not paying quarterly if I stay under the $12,950 for single filing?

Secondly, how much would I owe if I were to earn a little bit more, let's say between $15,000-$18,000? 

I am basically poor making this amount already. Any advice? 

P.S. I may be getting married at the end of this year, and i know that would change my tax liability as well. Would getting married at the end of this year automatically change my tax liability for this current year, or would it be pro-rated based on number of days remaining in 2023? 

I know that was a lot to ask. 

[Cindy4]

Hi @Cameron_SK !

Congratulations on your wedding!  If you file jointly, your standard deduction for 2023 will be $27,700.

You will only be penalized if you owe more than $1,000.

How much you owe if you make between 15,000 and 18,000 will depend on how much taxable income your new partner generates.  Here are the 2023 tax brackets that may help you visualize the amount you could possibly end up owing.  https://turbotax.intuit.com/tax-tips/irs-tax-return/current-federal-tax-rate-schedules/L7Bjs1EAD#:~:...

Hope this helps!

Cindy