Kirk wrote:

- quote -

Since you didn't say what your other income might be, I will
go out on a limb and give you an example anyway. Assuming
federal tax bracket of 15%, and SE tax of 15.3% (14.13%
effectively), you need to set assid about 29%, round off to
30% for federal tax. And if your state has an income tax,
add that percentage. for example, Georgia 6%, Illinois 3%
(?)

Cheer$,
Harlan Lunsford, EA n LA

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- quote -

It would difficult to say how much it would cost because
that would not be based on your income.

And you might have deductions against that 1099 income and
not realize it!

Carol

What can one expect of a day that begins with getting out of bed.
Semper Gumby (Always Flexible)

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- quote -

I would set aside about 33% and then whatever your state
withholding rate is (I live in Georgia and our rate is 6%).

- quote -

You could make one estimated tax payment in January. If you
didn't start this work until September, you obviously did
not have income from it prior to that.

Carol

What can one expect of a day that begins with getting out of bed.
Semper Gumby (Always Flexible)

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I recently did about $3,500-$4,000 worth of part time work.
The guy told me he would give me a 10-99. I realize I need
to pay my own taxes out of that money. How much of it should
I set aside. I don't have any deductions really that I know
of.

Also, I did not make quarterly estimated tax payments
because I was not aware, nor did I start until September.
Should I expect of fine for not doing this? Also, aprox. how
much would the fine be if acessed one?

Also, if I was to have a tax preparer do my taxes this year,
how much should I expect to pay with only about a $4,000
10-99 and my normal W-2 with no deductions?

Thanks for any help
kirk[at]loganet.net

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