Re:The Hidden Costs of Being an Uber Driver
by eurleif on Wednesday February 25, 2015 @03:56AM
(#9105904)
>If you wait until the end of the year and pay as one lump sum you'll likely be penalized.
In general, you don't have to pay estimated quarterly taxes in your first year of earning self-employment income. And after you file taxes for your first year, the IRS will inform you that you need to start paying estimated taxes. So it's not super-easy to accidentally get a penalty for this.
In general, you don't have to pay estimated quarterly taxes in your first year of earning self-employment income. And after you file taxes for your first year, the IRS will inform you that you need to start paying estimated taxes. So it's not super-easy to accidentally get a penalty for this.