Question

When I need to fill taxes?

Forum|Forum|2 years ago
August 30, 2023
1 reply
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I'm concerning when I need to fill taxes for Turo (Car rental) and Airbnb (Houses rental)? Is every certain time or just annually?

If I do fix and flip or wholesale houses when I need to fill taxes in this case?

I have an ecommerce business I'm guessing only I have to report taxes annually and is just the gain of the sale or Total sale?

What things I can deduct for a ecommerce business?

Ask the Experts - Self-Employed - Aug 2023

TeriH

You sound very busy!

The U.S. has a pay-as-you-go system, so you'll need to pay taxes from your side hustle on a quarterly basis. The first quarterly tax deadline for 2023 is April 18. The IRS has a great guide for all you need to know about filing taxes for your gig work, including a calculator to estimate what you will owe in taxes.

If you earn money for gig work as an independent contractor, you may have to pay quarterly estimated taxes. You can avoid a penalty by paying enough tax on time

https://www.irs.gov/pub/irs-pdf/p334.pdf

You pay tax on the net of income and expenses for the business.

Best wishes,
teri

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