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Elle88
August 28, 2024
Question

Instacart and quarterly taxes

  • August 28, 2024
  • 1 reply
  • 0 views

I am getting ready to be a  1099 shopper for Instacart. 

Do I need to file taxes quarterly?  
Also, what percentage should I set aside for taxes when I get paid?

    1 reply

    Jackstar221
    Jackstar221
    August 28, 2024
    Hi,
    You can write off mileage for the Instacart business in the Self-employment income and expenses section of TurboTax. You can add other deductions such as the TurboTax fee you paid in 2023 as a legal and professional fee.
     
    Here is an article regarding the self-employment tax rate : Self-employment Tax 
    This article is about calculating net self-employment income: Topic No. 554, Self-employment tax 
     
    Here is an estimated taxes link. Estimated Taxes
     
    Within this link, there is the Tax Withholding Estimator. Tax Withholding Estimator
     
    Here is an article regarding the penalties related to estimated tax for individuals. Underpayment of estimated tax by individuals penalty
    Here is an article showing the federal income tax rates and brackets: Federal income tax rates and brackets 
     
     

     

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