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 Member 2915 Level 31.81 Mar 2006 
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Do you guys essentially do maximum withholding or something? I owed $6 to the IRS and got ~$200 back from MA basically on rent deductions and I don't remember ever getting anything more than a few hundred dollars, if I got anything. I don't think I have particularly complicated returns. Am I missing some trough of deductions?
Jam it back in, in the dark. |
Member 2915 Level 31.81 Mar 2006
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Aren't you supposed to make quarterly estimated payments if you're not having income withheld? I thought they charged you penalties if you underpaid throughout the year.
There's nowhere I can't reach. |
Member 2915 Level 31.81 Mar 2006
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I don't know man. You said you were a free-lancer. That sounds like independent contractor/self-employed to me.
Who Is Considered Self-Employed? You might then owe self-employment tax. Self Employment Tax Regarding estimated taxes: Estimated Taxes Might be something to look into. Different article I found online mentioned they charge you 4% interest on underpaid taxes. This thing is sticky, and I don't like it. I don't appreciate it. |
Radez