self employment tax

[rnorth]

hello, i just started a consulting business as a sole proprietor and need some advise on keeping current with SE tax. i have heard that you have to pay SE tax quarterly but it seems all the forms on IRS website are for annual returns. can anyone shed some light on this for me?

 

[DonPhillips]

Keep looking on your federal, state, and maybe local websites. There are a quarterly form you submit with your quarterly payments.

Don Phillips

http://worthingtonengineering.com

 

[GregLamberson]

rnorth

I pay mine (SE + SS) quarterly, my CPA just rolls it into my quarterly payment calcs. You pay around 15%+ for SE & SS tax, you will get a credit on your year end return for 1/2 of the SE tax.

Would suggest getting a good CPA to handle it for you.

Greg Lamberson, BS, MBA
Consultant - Upstream Energy
Website:

http://www.oil-gas-consulting.com

 

[MacGyverS2000]

Once you sign up for your local/state licenses, you should receive a booklet in the mail with the quarterly forms.

Dan - Owner

http://www.Hi-TecDesigns.com