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Question
I make $230 a month teaching yoga. Do I need to do estimated taxes, or do I just enter in a 1099-misc each year? I used your calculator and it said I didn't need to do estimated taxes as I also have a W2 paid position. I'd love some help on this question!
- Anonymous
Answer
You likely do not need to make estimated tax payments because of the $230 you earn each month from teaching yoga. You could always have your W2 job withhold an extra $20 or so each month to help offset the income tax that you may owe on the $230 of monthly yoga income.

Melissa Pedigo

Melissa Pedigo has been a CPA for over 20 years and she is one of the only CPA copywriters in the world. With a vast knowledge of U.S. tax and accounting, she’s able to write about tax and finance topics from a unique perspective...as an industry expert. When she’s not writing or being an accounting nerd, you’ll find her watching and playing tennis, reading, tending to her half-grown garden, and studying foreign languages

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