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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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Sarah York, EA

Sarah is an Enrolled Agent with the IRS and has 6 years of tax and accounting experience. She's an avid hiker, animal lover, and self-proclaimed chocolate connoisseur.

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