

Ask HN: How do you file your estimated taxes? - bennyjoseph

Any freelancers/consultants out there? How do you deal with paying quarterly estimated taxes? I could pay an accountant but it seems a bit expensive for something that should be pretty simple.
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dangrossman
Take last year's tax bill and divide by 4. If you pay as much in estimated
taxes as the previous year's total taxes, there will be no underpayment
penalty even if you owe more at the end of the year. If you end up earning
less and have overpaid, you'll get a refund. You don't need an accountant to
help with this.

Print out the 4 payment vouchers, write in the amount you're paying, mail it
with your check by the quarterly due dates. The vouchers are the last two
pages of this PDF:

<http://www.irs.gov/pub/irs-pdf/f1040es.pdf>

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bennyjoseph
Very helpful. Thanks!

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mapster
I am doing this for the 1st time in 2013. Having paid my 2012 taxes (1040
schedule C) using turbotax, it helped me estimate quarterly payments based on
2012 earnings. If I make a lot more or a lot less by mid-year I can make
adjustments.

I was hoping there was a light weight accounting app that would help me with
bids/quotes, invoices, expenses, and taxes all under one roof on the cloud.

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vlod
I use <http://outright.com> for mine and it works nicely.

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mapster
Looks interesting but am hesitant about if this is a 2 person shop that will
not have the security in place to protect my data. Their video was very
unspecific about features and benefits.

