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Thread title: How often do you pay taxes? |
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03-08-2008, 06:23 PM
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#1
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How often do you pay taxes?
I, being in the United States, always thought that you pay taxes once a year on April 15. Until I was slapped with an "underpayment penalty". Turns out that I was supposed to do "estimated taxes" and pay them four times a year. Because freelance income was not taxed "out of the paycheck".
For you freelancers, do you pay taxes just once a year? Or pay four times a year? Also help if you give context to your answer by telling us what country you are referring to.
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03-10-2008, 10:25 AM
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#2
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I wish I could help you out with this. I live in Thailand, so I pretty much avoid all this. I am pretty sure if I headed back to America, some agency would give me a huge slap. That's when i would head straight back to Thailand.
Justin
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03-23-2008, 12:33 AM
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#3
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Um, Most time I get money back instead of paying taxes. But When I did pay them It was once a year.
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03-23-2008, 05:03 AM
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#4
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this is news to my ears. although freelancers dont get taxed on their payments, how would the IRS know.. unless freelancing is your full time job and when it comes to the tax day.. O!!
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05-28-2008, 04:42 PM
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#5
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Originally Posted by studio
this is news to my ears. although freelancers dont get taxed on their payments, how would the IRS know.. unless freelancing is your full time job and when it comes to the tax day.. O!!
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If you are just doing side jobs here and there from individuals that are just paying you small amounts out of their pocket they won't know. If you deal with an actual company that keeps records and files taxes the IRS will know they paid out money to you because the company will file a 1099 form of how much they paid to you.
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04-07-2008, 05:09 AM
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#6
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Every pay day...
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05-27-2008, 10:53 PM
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#7
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In the UK if you're self employed it will be twice a year.
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05-28-2008, 04:38 PM
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#8
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Been paying taxes quarterly for a few years. It's a must if you freelance full time unless you are strict with your money (can put 30% into a savings and not touch it) and can expect to pay a large lump of money on April 15th.
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06-16-2008, 01:52 AM
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#9
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Well does anyone tell me something about tax pay in china, for I am going to open an ensemble building and expand my job there?
Thank you!
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06-16-2008, 06:08 PM
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#10
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For businesses, large and small, you are required to pay quarterly taxes. Right now, I only pay taxes once a year because I don't make enough to pay quarterlies. That's going to change, however, in August as I will be doing strictly freelance work (quitting my job). I have an accountant that handles all of that for me also.
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