Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 04-10-2017, 11:00 PM
Junior Member
 
Join Date: Apr 2017
Posts: 1
W2 to Independent Contractor

I was on W2 from Jan to Feb 2017. Beginning March 1, I became an independent contractor. If for example, my expected income from March to August is $100k, and I don't really know if I'll still be a contractor starting September (I might go back to being on W2):
  1. Should I base my estimated taxes on $100k and divide it by 4?
  2. Since I've only been a contractor for a month, is it okay to start paying estimated taxes in July?
  3. Is it possible to change my tax payment in October if, for example, my contract is extended and my taxable self employment income increases?
  4. If I go back on W2 starting September, should I keep on paying my estimated taxes until January?

Thanks,
J



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
W2 vs Independent Contractor verma.manita Income 3 11-03-2015 11:36 AM
Independent Contractor and taxes Chris Glover Miscellaneous 1 02-26-2014 12:00 AM
W2 employee getting treated as independent contractor... please help CaliDog Income 3 01-13-2013 03:10 AM
New to being an Independent Contractor drowningintaxes Sole-Proprietorship 1 04-08-2011 12:17 AM
New Independent Contractor g8rcb Estimated Taxes 0 01-31-2010 05:07 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.