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hate4anime
New Member

Hi I’m self employed I didn’t know I had to pay quarterly taxes. So for the year of 2017 I made $42540 had $7510 in business miles, my federal taxes are 7938 and my state taxes are 1100? Is

 
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MarilynG
Level 11

Hi I’m self employed I didn’t know I had to pay quarterly taxes. So for the year of 2017 I made $42540 had $7510 in business miles, my federal taxes are 7938 and my state taxes are 1100? Is

If this was your first year in business, you shouldn't be penalized for not paying quarterly taxes. (Congratulations on a great year!)

However, TurboTax will set you up with vouchers to pay your quarterly Estimate Taxes going forward, so that you won't be in the same boat next year, with a possible penalty.

There are several ways to pay your Estimated Taxes.  Here's some info to help you:

https://ttlc.intuit.com/replies/3301258

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