My wife made money from 3 online English Teaching companies based in Hong Kong. She wasn't issued a 1099MISC for any of them and is considered an Independent Contractor. We weren't aware that we had to submit quarterly earnings until now.
I'm using Home & Business 2020. Under Business Income I've listed earnings from all 3 companies under General Income.
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Regarding statement #1, cash or accrual: The majority of tax payers (and small businesses) use the cash basis. Under the cash basis, income is not counted until cash (or a check) is actually received, and expenses are not counted until they are actually paid.
Regarding statement #2: Depending on your other income, 25% may not be enough since your wife has to pay self-employment (SE) tax, in addition to federal income tax and state (if your state has an income tax).
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