by Ron Kurtus
You can read them to further your understanding of the subject.
|Paying Taxes||How much estimated taxes must be paid||USA|
How much estimated taxes must be paid
Topic: Paying Taxes
June 18, 2007
I am a speech therapist and do contract work for a a therapy company year round. No money is taken from my taxes but I will be required to pay taxes at the end of the year. Approx. how much will I be required to pay to the goverment. $6000?
Alyssa - USA
You really need to pay estimated taxes four times a year. Figure 25% of the money you made in the quarter. It is better to pay a little more and not be penalized. Also, if you are self-employed, you must pay extra Social Security.
If you are doing contract work for the company the year round and do not have other contracts, they may be advised to take you on as an employee.
Hopefully, this reader feedback has helped provide information about Personal Finance issues.
Resources and references
The following resources provide information on this subject:
Questions and comments
Do you have any questions, comments, or opinions on this subject? If so, send an email with your feedback. I will try to get back to you as soon as possible.
Feel free to establish a link from your website to pages in this site.
Where are you now?
Feedback Q&A on Personal Finances