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Question when filing 1040es 576
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Question when filing 1040es

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Question when filing 1040es Empty Question when filing 1040es

Post  abennett05 Wed Dec 28, 2011 1:00 pm

I am trying to figure out my estimated tax payment that is due on January 15th. I became self employed in June of this year, I paid the September estimated tax payment, however, this time I am trying to make sure that I pay the lowest amount required. Last time I did a quick self employment tax calculation and paid that amount.

My husband has been employed this year and has had taxes taken out of his checks, only I have to make estimated payments. On the form 1040es there is a line to subtract your eic from your taxes due if I do that, the eic is more than taxes due so the result is 0 dollars in due taxes.

My husband and I plan to file jointly for our return this year.. I just want to make sure I can use the standard deduction and eic that I figured based on us filing jointly on my estimated taxes.

abennett05

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Question when filing 1040es Empty Minimum estimated tax payment

Post  William D McConnaughy Sat Dec 31, 2011 2:27 pm

I would suggest paying only the amount of self-employment tax that will be due on your net earnings for this quarter. That rate is 15.3%.

William D McConnaughy
William D McConnaughy
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