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August 28, 2024
Question

When are you required to pay quarterly tax estimates?

  • August 28, 2024
  • 1 reply
  • 0 views

I left my W2 job in March this year and started earning income as a sole proprietorship in June. Revenue is low - can you tell me the threshold of income that is required for me to have to pay quarterly estimated taxes?

    1 reply

    John-H2021
    August 28, 2024

    Hello,

    When to make estimated payments depends on your total tax situation.

     

    Here is an article that will walk you through the process of deciding whether to make estimates or not

    https://turbotax.intuit.com/tax-tips/small-business-taxes/estimated-taxes-how-to-determine-what-to-pay-and-when/L3OPIbJNw

     

    https://turbotax.intuit.com/tax-tips/self-employment-taxes/beginners-tax-guide-for-the-self-employed/L2HLojrj5

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