Just a tip to anyone else self-employed; how to calculate how much - TopicsExpress

Just a tip to anyone else self-employed; how to calculate how much to pay for your 2014 quarterly Estimated Tax payments: Take the amount from Line 61 from your 2013 1040 income tax form, divide by 4, then round up at least $1. Thats how much you need to pay each time to prevent a penalty. If you know your income will be higher in 2014 than 2013, round up at least $5. If it will be substantially higher, round up several hundred dollars.

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