Does anyone know approximately how much taxes I would owe if I claim $50,000 for the year income after I write everything off? I live in Maryland. And, would I have to pay taxes throughout the year or just after I file my taxes at the end of the year?

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You'll need to know how much in write offs to figure your self employment and regular taxes. If you can estimate do a mock 1040.
You need to pay taxes quaterly. Look up estimated tax payments.

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After write offs or if I don't write anything off. If my net profit is $50,000, what would my taxes be and would I pay them all at once after I file taxes at the end of the year, or file estimated taxes quarterly throughout the year?

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I would do a mock 1040. You'll need to in order to get the right amounts. You can look at tax tables from 2014

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I found a website for estimating taxes. It said that I would need to pay about $860 quarterly.

Thank you for suggesting that I look up estimated tax payments.

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Wow, I make a lot less than that and my CPA said to pay 1500 quarterly to federal and 125 to state.

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I posted on your other thread in the tax section, but don't forget to estimate for self-employment taxes, which are 15.3% of your net income currently.

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Your welcome! My first year I didn't pay any... it was terrible.

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