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):
- Should I base my estimated taxes on $100k and divide it by 4?
- Since I've only been a contractor for a month, is it okay to start paying estimated taxes in July?
- Is it possible to change my tax payment in October if, for example, my contract is extended and my taxable self employment income increases?
- If I go back on W2 starting September, should I keep on paying my estimated taxes until January?