I make 1000$ a week salary as a subcontractor, how much in taxes would I have to pay for the year
Answered by Keeper Staff ·
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.