tag:blogger.com,1999:blog-2472366353445139162.post6803547805022099304..comments2023-09-29T03:10:20.846-06:00Comments on June Walker: Tax & Financial Advisor to the Self-employed: Estimated TaxesJune Walkerhttp://www.blogger.com/profile/06012914777750500466noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-2472366353445139162.post-1039118521972293752008-09-05T09:11:00.000-06:002008-09-05T09:11:00.000-06:00Hello Lauren,If ...... you put the right numbers i...Hello Lauren,<BR/><BR/>If ...<BR/>... you put the right numbers into Turbo Tax ...<BR/>... on the correct lines ...<BR/>... and if Turbo Tax did the proper calculations ...<BR/>... then you may get a refund.<BR/><BR/>As you know from reading my posts on taxes, your tax liability is determined by many factors -- everything from the # of kids you have to amount of your pension.<BR/><BR/>-- JuneJune Walkerhttps://www.blogger.com/profile/06012914777750500466noreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-35111771234827156732008-09-04T14:39:00.000-06:002008-09-04T14:39:00.000-06:00June, Quick question! I began doing consultant wor...June, <BR/>Quick question! I began doing consultant work for a company this year, and will expect to earn around $9,000 total. My husband, who works for the federal govt makes a substantial amount, and has a large amount withheld. I jumped on turbo tax and did a "dummy" return, usuing his salary and withholding from last year, and estimated my earnings, and it says we will still get a refund. I'm correct in assuming that I do not need to pay estimated taxes on my meager little earnings as long as his withholdins are enough to cover us both, correct?<BR/>LaurenAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-31317639765180029552008-04-11T12:53:00.000-06:002008-04-11T12:53:00.000-06:00Hello Anonymous,OK, let's see ... last year you ha...Hello Anonymous,<BR/><BR/>OK, let's see ... last year you had an income of $600,000 and you got a refund of $900. Next year you're going to make $800,000 or $1,200,000. Hmm ... should you pay estimated taxes?<BR/><BR/>Oh, wait, perhaps I misunderstood. Last year you had an income of $6,000 and you got a refund of $900. In 2008 you're going to make $8,000 or possibly as much as$12,000.<BR/><BR/>I am not trying to be a wise guy here. I am attempting to show you that only when your question is adequately presented will you get an answer that is useful to you. <BR/><BR/>-- JuneJune Walkerhttps://www.blogger.com/profile/06012914777750500466noreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-33027898541434674042008-04-02T18:48:00.000-06:002008-04-02T18:48:00.000-06:00We got a refund of approximately $900 this year, a...We got a refund of approximately $900 this year, and this year both my husband and I are self-employed. We do expect to make at least a third more than we did this past year, if not double. Does it seem from this information that we won't need to pay estimated taxes this year?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-64575259850618275162007-10-04T19:17:00.000-06:002007-10-04T19:17:00.000-06:00Yes, they are, Nick.-- June WalkerYes, they are, Nick.<BR/><BR/><BR/>-- June WalkerJune Walkerhttps://www.blogger.com/profile/06012914777750500466noreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-71310100528551288512007-09-26T22:33:00.000-06:002007-09-26T22:33:00.000-06:00What if it is your first year?Are the requirements...What if it is your first year?<BR/><BR/>Are the requirements the same during your first year self-employed?Nickhttps://www.blogger.com/profile/08624242333922229172noreply@blogger.com