turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

8789123
Returning Member

1099 Status as Contract worker

I am working as a Contractor for a work from home company. I will be getting a 1099. I assume I need to pay quarterly taxes to avoid penalties. How do I calculate those figures? Should I form and LLC as well?

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
OpeA1
Employee Tax Expert

1099 Status as Contract worker

Hello 8789123!

 

Here is a link to our free tax calculator to help you with the calculations: https://turbotax.intuit.com/tax-tools/calculators/w4/ . 

 

Here is a link to give you some helpful information on the benefits of forming an LLC: https://ttlc.intuit.com/turbotax-support/en-us/help-article/business-taxes/sole-proprietorship/L8soe... 

 

I hope this helps.

Thank you for using TurboTax Live!

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies