26
Tried to do my own quarterly taxes for the first time and it was a mess
Honestly, I thought I could handle my estimated taxes myself this year. I made about $15,000 in freelance writing work last quarter and used a free online calculator. I sent in what I thought was the right amount, $2,200, to the IRS. Got a letter last week saying I underpaid by almost $400 because I completely messed up the self-employment tax part. I just did the income tax and forgot the other half. Ngl, it stressed me out for a whole afternoon fixing it and paying the extra plus a small penalty. I learned that the tax stuff is way more tricky than just setting aside a percentage of my pay. Has anyone else had a surprise like this their first time? What tool or method do you use now to get it right?
3 comments
Log in to join the discussion
Log In3 Comments
butler.laura18d ago
Agree with @brianmurray, that part always trips people up.
2