EPISODE · Feb 3, 2019 · 33 MIN
How to Pay Quarterly Taxes
from Oh My Dollar! · host Oh My Dollar!
Do you have a profitable side hustle? Are you entirely self-employed? Do you send invoices to get paid rather than than get a paycheck with tax deductions taken out? It’s entirely possible you should be paying quarterly estimated taxes then. Paying quarterly estimated taxes can be annoyingly scary - not only are you like “WHY ARE YOU TAKING MY MONEY, GOVERNMENT?” you are responsible for keeping track of how much you get paid. The government website isn’t super fun. The IRS likes to believe they make it easy, but really they don’t. So today we break down how it works. Where to Go! - This not-so-handy form called IRS Form 1040-ES which will help you estimate your marginal tax rate - You can pay your taxes and automatically on the IRS’s website using “direct pay” or you can set up an account on the Electronic Federal Tax Payment System Deadlines for Quarterly TaxesFor income received Jan. 1 through March 31, estimated tax is due April 15.For income received April 1 through May 31, estimated tax is due June 15.For income received June 1 through Aug. 31, estimated tax is due Sept. 15.And for income received Sept. 1 through Dec. 31, estimated tax is due Jan. 15. Ask us a question! We love hearing from you! Email us your financial worries or receipt victories at [email protected] or tweet us at @anomalily or @ohmydollar An Easy Way to Help Our iTunes review drive is going on right now! It takes less than 10 seconds to click a star, it’s totally free, can you help us out? Click here to leave a review: https://itunes.apple.com/us/podcast/oh-my-dollar/id1189980636?mt=2 This show is made paw-sible by listeners like you We absolutely love our Purrsonal Finance Society Members, the folks that generously support Oh My Dollar with $1 or more a month on Patreon – and have made is so we have free, full transcripts for every show on ohmydollar.com This episode was underwritten by patron Tamsen G Association and Warrior Queen. To learn more about being part of the Purrsonal Finance Society and get cool perks like exclusive livestreams and cat stickers, you can visit ohmydollar.com/support Learn more about your ad choices. Visit podcastchoices.com/adchoices
What this episode covers
Do you have a profitable side hustle? Are you entirely self-employed? Do you send invoices to get paid rather than than get a paycheck with tax deductions taken out? It’s entirely possible you should be paying quarterly estimated taxes then. Paying quarterly estimated taxes can be annoyingly scary - not only are you like “WHY ARE YOU TAKING MY MONEY, GOVERNMENT?” you are responsible for keeping track of how much you get paid. The government website isn’t super fun. The IRS likes to believe they make it easy, but really they don’t. So today we break down how it works. Where to Go! - This not-so-handy form called IRS Form 1040-ES which will help you estimate your marginal tax rate - You can pay your taxes and automatically on the IRS’s website using “direct pay” or you can set up an account on the Electronic Federal Tax Payment System Deadlines for Quarterly TaxesFor income received Jan. 1 through March 31, estimated tax is due April 15.For income received April 1 through May 31, estimated tax is due June 15.For income received June 1 through Aug. 31, estimated tax is due Sept. 15.And for income received Sept. 1 through Dec. 31, estimated tax is due Jan. 15. Ask us a question! We love hearing from you! Email us your financial worries or receipt victories at [email protected] or tweet us at @anomalily or @ohmydollar An Easy Way to Help Our iTunes review drive is going on right now! It takes less than 10 seconds to click a star, it’s totally free, can you help us out? Click here to leave a review: https://itunes.apple.com/us/podcast/oh-my-dollar/id1189980636?mt=2 This show is made paw-sible by listeners like you We absolutely love our Purrsonal Finance Society Members, the folks that generously support Oh My Dollar with $1 or more a month on Patreon – and have made is so we have free, full transcripts for every show on ohmydollar.com This episode was underwritten by patron Tamsen G Association and Warrior Queen. To learn more about being part of the Purrsonal Finance Society and get cool perks like exclusive livestreams and cat stickers, you can visit ohmydollar.com/support Learn more about your ad choices. Visit podcastchoices.com/adchoices
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How to Pay Quarterly Taxes
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