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Larce12
August 28, 2024
Question

Barber

  • August 28, 2024
  • 1 reply
  • 0 views

Hello, my boyfriend became a barber this year and has started working in June. Should he be filing quarterly? We are in Massachusetts. Thank you in advance!

    1 reply

    John-H2021
    John-H2021
    August 28, 2024

    Hello, He may or may not need to file based on his net profit (gross income minus expenses) and other income on his return.

    Here is an article on when and how to make estimated  payments https://turbotax.intuit.com/tax-tips/small-business-taxes/estimated-taxes-how-to-determine-what-to-pay-and-when/L3OPIbJNw

     

    You may also need to make estimated payments to Massachusetts, which would be 5% of net profit each quarter.

     

    Here is a beginners guide to being self employed https://turbotax.intuit.com/tax-tips/self-employment-taxes/beginners-tax-guide-for-the-self-employed/L2HLojrj5

     

    EDITED 9/10/24

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