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04-25-2022 06:40 AM
I could not find this answer anywhere in the forums or online.
I am interested for a few reasons:
- I won't notice the money is missing
- There's no need for me to save up for or make a gigantic payment in April
- Withholding decreases underpayment
If this is not offered, do you just set money aside?
Thanks!
Solved! Go to Solution.
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voluntary tax withholdings
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04-25-2022 07:35 AM
No because you aren't an employee. Companies are only required to do withholding for employees.
Because I'm completely freelance in all ways, I make quarterly payments so no big payment in April unless I've had a big year. The quarterly payments are based on what my income was for the previous year. The IRS determines the amount and provides the coupons for sending in each quarter.
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04-25-2022 07:35 AM
No because you aren't an employee. Companies are only required to do withholding for employees.
Because I'm completely freelance in all ways, I make quarterly payments so no big payment in April unless I've had a big year. The quarterly payments are based on what my income was for the previous year. The IRS determines the amount and provides the coupons for sending in each quarter.
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04-25-2022 09:02 AM
Thank you.
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04-25-2022 08:51 AM
It is quite easy to pay the quarterly taxes online. In fact, in the US if you pay over $1,000 a year in income tax from a business, you are required to pay quarterly - or you pay a penalty.
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04-25-2022 09:02 AM
Thank you. I will look into this.

