Hi, was wanting to clear something with dates. I just started a new job on March 17, as a 1099 contractor, after many years of being a w2 employee.
I totally understand the upcoming deadlines:
- January 1 through March 31 - April 15
- April 1 through May 31 - June 15
But I'm not sure what my deadline is, for my first estimated tax payment.
( I do know for sure that I'll need to make one, that's not the question. Aside from withholdings, the tax due will be well over 1000.) My Confusion:
I'm in a Pay Period that runs from Mar 17, to Mar 31. So you would think my deadline would be April 15. However
, I don't actually receive payment until April 11.. which would put me on the June 15 deadline, (and thus give me needed time to figure out how to do estimated taxes.)
All of the documentation I've read on the irs site, didn't distinguish between:
- the dates that you earn the pay through your work
- the date when are you actually physically paid with cash in your checking account/or receive check.
So was wondering, which dates actually matter, when you're considering what "slot" to put yourself into?
p.s. sorry for the long post on such a simple concept. When I tried to make it shorter on other sites, noone understood what I was talking about.