I will be working for my self this year I need to figure out how much state and federal taxes to send in every quarter i live the state of Alabama..last year i worked for someone but i was responsible for my own taxes ...he gave me a 1099 so i can file but i was way off on how much i should have sent in...help?
2007-02-06 09:00:49 · 3 answers · asked by Brenda G 2 in Business & Finance ➔ Taxes ➔ United States
Use the worksheet with 1040-ES form to calculate the estimated taxes.
http://www.irs.gov/pub/irs-pdf/f1040es.pdf
2007-02-06 09:06:10 · answer #1 · answered by onlinetaxsiteswatch 2 · 0⤊ 0⤋
if you are self employed, i highly recommend that you find a reputable accountant (preferably a CPA) and have them set you up with quarterly tax returns. it will be worth it to have the CPA do your taxes for you each year, but they can probably give you what you need to pay your quarterly taxes on your own. your bank may even provide this service, and can deduct the taxes from your account each quarter.
2007-02-06 17:04:50 · answer #2 · answered by SmartAleck 5 · 0⤊ 0⤋
use TurboTax or hire a professional.
2007-02-06 17:03:34 · answer #3 · answered by Anonymous · 0⤊ 0⤋