Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community

2 replies

MarthaT
MarthaT
August 30, 2023

Hello how are you doing

**Say "Thanks" by clicking the thumbs up icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
MarthaT
MarthaT
August 30, 2023

To answer your question, it is best that you start making payment if you believe your net income from your self-employment (Form 1099-NEC) is more than $1,000.00.  Otherwise you might ended up paying more with penalties and interest.  You can start making your quarterly payments at https://www.irs.gov/payments.

**Say "Thanks" by clicking the thumbs up icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
Cindy4 12
Cindy4 12
August 30, 2023

Hi @craigv !

 

Quarterly payments are required if you will owe more than $1,000 for the year.

 

Here is a resource that should help:

https://turbotax.intuit.com/tax-tips/small-business-taxes/estimated-taxes-how-to-determine-what-to-pay-and-when/L3OPIbJNw

 

Best wishes on your new venture!

Cindy

**Please say "Thanks" by clicking the thumbs up icon in a post***Mark the post that answers your question by clicking on the "Mark as Best Answer"
TurboTax Expert Assist
TurboTax Expert

Get answers to all your tax questions

Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

Terms & ConditionsCookie settingsAccessibility statement
Intuit
TurboTax Credit Karma QuickBooks MailChimp

©1997-2022 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
of Intuit Inc. Terms and conditions, features, support, pricing, and service options
subject to change without notice.

Security Certification of the TurboTax Online application has been performed by
C-Level Security.

By accessing and using this page you agree to the Terms of Use.

Accessibility

TRUSTe nResult Certified e-File C-Level Security Certification