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New to 1099 Quarterly Taxes

I started a side job in January 2021 where I'm being paid with personal checks periodically. I didn't expect the job to continue more than a few months, but it looks like it's going to be a regular thing now. I had read that if you weren't expecting to make more than about $3,000 a year in 1099 work, you probably wouldn't need to worry about quarterly taxes, so I didn't pay for the first quarter since I didn't make that much. Now that the job is going to continue on, I need to start paying quarterly.

 

My question is: do I need to pay twice (one for the first quarter, and one for the second quarter), or do I just go to pay taxes on what I've earned up to this point? I don't have any documentation other than a personal list of my hours worked. 

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2 Replies
rjs
Level 15
Level 15

New to 1099 Quarterly Taxes

Make one payment now, by June 15, to cover the tax on your income through May 31. What matters is the date that you make the payments, not how many payments you make. But you already missed the April 15 payment. There's nothing you can do about that except to pay the full amount now for the year to date.

 

New to 1099 Quarterly Taxes

Another option if you have a job where you get a W-2 or any other place that withholds taxes to just increase the withholding from that source in lieu of making estimated quarterly payments.

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