I'm married and my wife and I work full-time. And I also started part-time consulting on the side (less than 10 hours per week or no hours during certain weeks). This is my first time doing consulting (1099) and I'm not really sure how to file my taxes or what I need to do as a part-time consultant to be tax compliant. I have some questions which are below -
Do I need to file any forms before filing my taxes for example during the year? I know I will need to keep about 30-50% of my income (from consulting) aside for tax purposes. But someone told me that I need to file some forms before the beginning of each quarter. What are these forms and how should I be filing them (instructions)?
I file my tax returns as a joint return with my wife. For the consulting gig taxes, could I file a return separately from the joint return? Or how would that filing work?
Do I need to do anything special tax wise other than paying taxes on my own and any paperwork during the tax year?
I haven't filled out any paperwork for the current month's work that I did? How can I remedy that?