I live in Florida and am working for an LLC as a contractor for the first time ever. I travel all over the country speaking at colleges and Universities. I am concerned about the issue of paying estimated taxes. I have been told that the approx taxes on $40,000 are just under $8,000 WITHOUT deductions....I don't know how much I will end up making but I am guessing close to 50,000.....I would like to stick wtih the 40,000 number for now though. Is this statement true and if so, how was it figured?? I have sent estimated payments totaling around 5,000...I am WORRIED about 4/15......
2007-10-25
19:08:48
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7 answers
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asked by
william e
2