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Question
I make 1000$ a week salary as a subcontractor, how much in taxes would I have to pay for the year
Answer

This is a great question! The first step is to calculate your net income for the year. Net income is your gross pay minus any eligible business expenses. Once you have a good number to work with, plug it into Keeper Tax's 1099 tax tool, and voila! Your projected tax bill.

From there, I would break that amount into four quarterly amounts and begin submitting estimated tax payments to the IRS. Check out our guide on how to make estimated tax payments.

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Answer

This is a great question! The first step is to calculate your net income for the year. Net income is your gross pay minus any eligible business expenses. Once you have a good number to work with, plug it into Keeper Tax's 1099 tax tool, and voila! Your projected tax bill.

From there, I would break that amount into four quarterly amounts and begin submitting estimated tax payments to the IRS. Check out our guide on how to make estimated tax payments.

No answer given yet!

Keeper Staff

Keeper is a delightfully smart tax filing software that's especially useful for people with 1099 contracting and freelance income. Our blog breaks down IRS guidance with real-world examples and analysis by tax professionals — empowering taxpayers to save money and take control of their finances.

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