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3
votes
2answers
77 views

When paying estimated quarterly taxes, can I prorate the amount based on the irregular payment due dates?

My husband became a partner at his law firm this year and so this is the first year we are having to pay estimated quarterly taxes. I am confused about why one would be expected to pay 4 equal ...
1
vote
1answer
74 views

Estimated tax for capital gains on large, one-time sale of index mutual fund to fund home purchase

My wife and I are trying to buy our first home and sold an index mutual fund with about 60k in capital gains. This is my first time reading form 1040-ES, but it seems that it is made for an ...
2
votes
2answers
66 views

estimated taxes and late penalties on highly “bursty” side income

I have a full time job where I get a W-2. In addition I occasionally freelance on the side as a contractor and receive a 1099-MISC. The freelance work is very irregular and hard to predict. It's ...
2
votes
0answers
82 views

Self Employed, but not required to pay estimated taxes?

According to Chapter 2 of Publication 505 on the IRS website, I am not required to pay estimated self-employment taxes because I do not plan on having taxes totalling over $1,000 by the end of the ...
0
votes
2answers
112 views

Estimated Tax Requirements (1040es) Seem Low

TL;DR - Form 1040es lines 14a and 14b are very different, causing me to be wary of my end result for required quarterly estimated tax payments. I've been working through my 1040es for the first time ...
6
votes
1answer
395 views

Why are estimated taxes due “early” for the 2nd and 3rd quarters only?

According to the United States internal revenue service, federal estimated tax payments are due on this schedule: April 15 June 15 September 15 January 15 (of the next year) June is only two ...
2
votes
2answers
8k views

How do I estimate my taxes when I have only 1099 income?

Last year I had W-2 income and 1099 income. I made $10,000 in real estate commissions. I believe I paid $1800 last year in 1099 tax, but none of it to the best of my knowledge was penalized. I filed ...
2
votes
3answers
363 views

Paying Self Employment Tax 1040ES Monthly

I have recently become self-employed (independent contractor) and I would like to take care of my Estimated Taxes as I am paid, which is only a monthly basis. I understand that the IRS requires ...
2
votes
1answer
159 views

Can I just file a 1040-ES?

I got married last year, and made some reasonable estimates of what my taxes would look like in 2012, the first full year of being married. However, a few things have changed and some of the ...
3
votes
1answer
103 views

Is there a threshold at which estimated taxes must be paid electronically?

In the United States, is there an income or tax threshold above which an individual is required to make their estimated quarterly tax payments by electronic means?