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Need information on paying estimated taxes.?


I became an independent contractor this past January when I began tutoring high school students. This is in addition to my full-time job. I would like to pay my taxes quarterly so I don't end up with a huge amount to pay next year. Can anyone point me in the right direction to estimate the taxes I owe?

You will own self-employment tax (social security) of around 15.4% plus whatever your rate of federal income tax is plus your usual rate of state tax if your state has a income tax.
Form 1040ES,
you can do a 1099 quartly,however once you employ others you then have to contribute to s.s. and their taxes consult a cpa
Download form 1040ES and its instructions at irs.gov - that should give you all the info you need.
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