Re: Freelancing and EIN

[Robert Lauriston <robert -at- lauriston -dot- com>]

True, there are exceptions, though I don't think I've ever qualified
for them in 20+ years of 1099 income.

I should have said if you have 1099 income, you need to check each
quarter to see if you need to pay federal or state estimated taxes.
Otherwise you might end up having to pay penalties (which are not
terribly onerous, but it's still throwing money away).

https://turbotax.intuit.com/tax-tools/tax-tips/Small-Business-Taxes/Estimated-Taxes--How-to-Determine-What-to-Pay-and-When/INF12007.html

http://www.hrblock.com/free-tax-tips-calculators/tax-help-articles/General-Filing/Underpayment-of-Estimated-Tax.html?action=ga&aid=27047&out=vm

On Tue, May 26, 2015 at 1:41 PM, Dan Goldstein <DGoldstein -at- nuot -dot- com> wrote:
> Not all self-employed individuals who receive 1099 forms are required to make estimated tax payments. Some are, some aren't.
>
> -----Original Message-----
> From: Robert Lauriston
> Sent: Tuesday, May 26, 2015 4:33 PM
> To: techwr-l -at- lists -dot- techwr-l -dot- com
> Subject: Re: Freelancing and EIN
>
> If you have 1099 income, you have to pay estimated taxes quarterly.
> It's not complicated.
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