P.S. Now is the time to find someone to prepare your tax return next year. You do not need a CPA. Find a tax preparer who keeps up with their education on the IRS’s Return Preparer directory at https://irs.treasury.gov/rpo/rpo.jsf

P.P.S. Interview other people. I’m a bit disturbed that your preparer gave you incorrect information on the timing of making estimated payments — really basic stuff — that is contradicted by one of the first few sentences in the first document I linked for you.

Yes. It’s unlikely that you owe any income tax if that’s your only income and if it was W-2 income.

If it was self-employment income, you will owe self employment tax as well as late-filing penalties (failure to file and failure to pay) and interest. Even so — the failure to file penalty is higher than the failure to pay penalty, so please file as soon as possible.

Next year, check the IRS website to find a VITA site to get your tax return prepared free by IRS-certified volunteers, usually February 1-April 15.

Yeah, if it’s a place for 4, one would expect 4 place settings (at least)!

I’m guessing it’s a remotely-hosted place and no one has eyes on the details: dust under furniture, the fact that some dishes etc. have gone missing.

It’s so cute. I’ll try to participate meaningfully and see if I can get one.

People gossip. Try to not let it bother you.

Hey, how’d you get that cute little orange Florida under your handle?

Ew.

I love when guests choose bare-bones listings for the price, then complain about all the stuff that the listing doesn’t have.

…Stuff that’s not in the photos or in the description.

Cleanliness is something to note.

The fact that the flat plates are not suited to your child, who needs a rim, is not.

Why? She’s a psychopathic sociopathic spider?

She should at least be paying you what she gets paid!

Yes. And if you pay monthly, you won’t miss any quarterly deadlines!

The next quarterly deadline is September 15th but I recommend that you calculate your income through the end of June and pay tax by July 15th. Then you’ll only owe tax on July and August income by September 15th.

See https://www.irs.gov/faqs/estimated-tax/individuals/individuals-2

California is going to think you’re just trying to avoid paying state tax. Uncomplicate your life. You live and work in Nevada, now vote and change your driver’s license and car registration to Nevada.

Your tax advisor is incorrect unless you made zero income (edited to add: I should have written “owed zero tax”) last year…I gathered when you said you quit your previous job to freelance that you had income in 2023.

Yes, you’d owe 14% payroll tax on net income (income less expenses) on the freelance work plus income tax on your total income.

You’re likely not in a 30% effective tax rate but that 30% would probably cover your payroll tax + income tax.

I usually recommend that freelancers make monthly tax payments because it’s so easy to spend the money and get caught short.

California resident? Yes.

You should probably be making quarterly tax payments online of about 14.2% of your net profits for payroll taxes (Social Security and Medicare) plus calculate your approximate income tax on your regular and freelance income.

The payroll tax is 7.65% for both the employee and the employer (total of 15.3%) so when you’re self employed, you’re both. But since the employee part is tax deductible, it ends up being about 14%…

Thanks, didn’t know they existed!

I’d pick a country where the drinking age is 18 or younger. This is not the country or state where you want to find out how robust your Embassy’s consular services for citizens imprisoned abroad are. Come when you’re 21.

Uncle Sam does not take all of your extra earnings — unless you’re paying off some past tax debt by automatic debit from your bank account.

That’s not how taxes work.

If by some odd occurrence, you’re having too much tax withheld, you can fix that with your employer, or you’ll either pay less tax or get a larger refund when you file your tax return next year.

Edited to add: if you have a question about taxes, post over at r/tax and you should be able to get an answer for why you’re having so much tax withheld. Be sure to redact any personal information.

I’d urge him to apply again for unemployment, as having a car isn’t normally linked to being denied unemployment compensation.

After all, cars are not necessary for everyone who has a job.

Usually, the reason unemployment compensation is denied is that the worker quit or was fired in conjunction with some sort of criminal charge involving the job (like embezzlement).

Please please please get a professional bookkeeper! Or even better, a bookkeeper who’s working with a tax preparer with corporate income tax return experience.

Not a good approach; you’re subjecting yourself to underpayment penalties.

Unless your total tax is less than this amount, why don’t you complete a W-4V form and have minimum 7% withheld for taxes?

I’ve seen multiple instances where the IRA custodian neglects to withhold the tax timely — impossible to say whose fault that is — and the taxpayer is penalized.

If you’re taking the required distribution from your IRA at the end of the year, obviously this is not a “I need my money” situation. What are you gaining by waiting? Maybe $125 in interest somewhere?

I’d just withhold to avoid the hassle.

Lawrence?

Slaughter. Strange. Roach.

I do think you should allow a full refund since they tried to cancel within an hour.

How do they get good espuma if they don’t catch the first few drops and mix them with sugar!?!

You’re gonna have to buy an espresso machine.

Or visit Miami more often.