05/13 - Seafood Saturday!

[jenaling]

Okay. So I've tried reading everything I can but I think I'm a little slow with this tax stuff, do you actually have to file a 1040es or do you just use the worksheet they provide on the IRS website to calculate it and then pay using the voucher?

Do you mean for quarterly taxes? If so, no, you don't have to send the form in. Just the payment.

 

[Kerek]

Okay. So I've tried reading everything I can but I think I'm a little slow with this tax stuff, do you actually have to file a 1040es or do you just use the worksheet they provide on the IRS website to calculate it and then pay using the voucher?

You have to file a 1040.

If you're talking about estimated taxes, you just pay. I pay online.

 

[Lila. B.]

Do you mean for quarterly taxes? If so, no, you don't have to send the form in. Just the payment.

Thank you so much!!!!!

 

[Lila. B.]

If you're talking about estimated taxes, you just pay. I pay online.

Thank you!

 

[Spicy Unagi]

Okay. So I've tried reading everything I can but I think I'm a little slow with this tax stuff, do you actually have to file a 1040es or do you just use the worksheet they provide on the IRS website to calculate it and then pay using the voucher?

Are you filing an individual tax return? When I filed, I needed a regular 1040 (no EZ or ES) and a Schedule C: Profit or Loss from Business tax forms. The Schedule C was for mTurk. There's also a Schedule SE that's attached to the Schedule C form.

EDIT: spellcheck

 

[Lila. B.]

Are you filing an individual tax return? When I filed, I needed a regular 1040 (no EZ roo ES) and a Schedule C: Profit or Loss from Business tax forms. The Schedule C was for mTurk. There's also a Schedule SE that's attached to the Schedule C form.

Oh sorry. Just the estimated tax

 

[Bode "Emo Barry" Miller]

If you're talking about estimated taxes, you just pay. I pay online.

I'm going with the responsible route of not paying quarterly and then gambling on just paying whatever underpayment fee (if I get sent one) the IRS chooses to send me again for this next year

 

[Lila. B.]

I'm going with the responsible route of not paying quarterly and then gambling on just paying whatever underpayment fee (if I get sent one) the IRS chooses to send me again for this next year

How much is the underpayment fee usually? Is it a lot...?

 

[Spicy Unagi]

Oh sorry. Just the estimated tax

Hmm...I'm not quite sure what the estimated tax would be. There were so many final calculations going on that Schedule SE sheet alone.

 

[Bode "Emo Barry" Miller]

How much is the underpayment fee usually? Is it a lot...?

I don't know, but I also wouldn't advise this strategy

 

[Kerek]

I'm going with the responsible route of not paying quarterly and then gambling on just paying whatever underpayment fee (if I get sent one) the IRS chooses to send me again for this next year

I'm pretty sure it's very small, like 4% and only for the time you missed which is only a few months for the last payment, more for the earlier ones.

Edit: So probably ~2.5% of what you owe if you pay nothing.

 

[Jaded]

how's saturday treating everyone?

 

[Lila. B.]

So, if I missed the first quarterly, cuz I'm dumb, what should I do?

 

[KnockoutTurk]

Hey folks! ...Is it me or did today blow? I haven't turked at all today... but I've had Scraper running while working out (not sure what the hell I did for 6 hours though... I must've just sat in my gym-room??) ..anywho; Scraper dinged ONE time (3.4 TO/0.10c) ...

 

[Kerek]

So, if I missed the first quarterly, cuz I'm dumb, what should I do?

Pay as soon as you can and the fee will be a few dollars, or don't pay until next April and it will be like 12 times a few dollars.

 

[Spicy Unagi]

how's saturday treating everyone?

Most folks got high off Jamelios and A9s today. So...not too bad.

 

[sweetpea0678]

Capped at 516, none yesterday.

I just got capped at 518, I didn't do any yesterday either.

 

[A6_Foul_Out]

Have you been to bed?

yes.

You doing okay? Has the forum finally driven you bonkers? I'll be good, I swear.

telling you guys.

conspiracy

 

[Lila. B.]

Pay as soon as you can and the fee will be a few dollars, or don't pay until next April and it will be like 12 times a few dollars.

Would the fee be high if I waited and paid the first quarterly with my second quarter payment?

 

[C to the J]

how's saturday treating everyone?

Didn't work.
Shopped all day.

10/10 would do again.