You should make a quarterly payment based on you estimated income for that period, just like SS recipients do
beginner tax paying questions
G
what % does a 1099 pay? they send a bill I pay minus the receipts I save for expenses? hand written receipts for used items usable? I send receipt copies?
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G
Based on this post & the other one,
http://www.contractortalk.com/f118/why-d-i-get-such-little-sub-work-company-107870/#post1332215
Do us all a favor & get a job at 7-11 or somewhere before they take your lunch money too.:whistling
http://www.contractortalk.com/f118/why-d-i-get-such-little-sub-work-company-107870/#post1332215
Do us all a favor & get a job at 7-11 or somewhere before they take your lunch money too.:whistling
G
"Say What?" Griz, you're killing me man :lol::lol::lol:griz said:Based on this post & the other one,
http://www.contractortalk.com/f118/why-d-i-get-such-little-sub-work-company-107870/#post1332215
Do us all a favor & get a job at 7-11 or somewhere before they take your lunch money too.:whistling
G
:laughing:griz said:Based on this post & the other one,
http://www.contractortalk.com/f118/why-d-i-get-such-little-sub-work-company-107870/#post1332215
Do us all a favor & get a job at 7-11 or somewhere before they take your lunch money too.:whistling
You don't suppose someone's having fun with us, do you?
G
YEP...Just pay pay pay....carl75r44 said:say what? I'm supposed to send them money before they ask and it has to be on time? I worked for about 3 months starting 4 months ago.
I guess you don't have to pay your estimates and then pay the additional fines at the end of year but I don't like to pay the extra penalties.
I suggest going to your local book store and buy the book "How to Pay your taxes for Dummies" book. :clap:
Called " your government at work"
G
One of the best posts I've seen here! And btw, I agree!!!griz said:Based on this post & the other one,
http://www.contractortalk.com/f118/why-d-i-get-such-little-sub-work-company-107870/#post1332215
Do us all a favor & get a job at 7-11 or somewhere before they take your lunch money too.:whistling
And btw, did you see that IRS just hired a bunch of new auditors and their TARGET is very small businesses? Yep, our government has turned their attention to small businesses!
We're a slow-moving target and we don't have full-time bookkeepers, their modus operandi is to conduct a "mail audit" (which is glimpse of hell itself) and then disallow a few honest deductions and then send the small business a bill for $500 - $2,000 and the small business will pay it, rather than even try to fight the IRS and it's a BIG WIN for the IRS!!! (Until the small business owner says, "screw this," and closes their doors because being attacked by one's government is the last straw...)
Audits of super-small businesses (sole proprietors are their favorite) are way, way, WAY up!
So as to the original post, I'd say give it up now. Find one of those dandy jobs where someone walks up to you once a week and hands you that safe little pre-taxed paycheck.
Rose
1 - 10 of 10 Posts
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