Seems like I owe almost 8000 in taxes

REX HAVOC

Well-Known Member
That's the problem with being an independent contractor. None of us want to put aside money aside for taxes. Maybe next year you can take out what you think you'll need for the IRS and put it in a seperate account and don't touch it until tax time.
 

Jaredgeorge29

Well-Known Member
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  • #10
That's the problem with being an independent contractor. None of us want to put aside money aside for taxes. Maybe next year you can take out what you think you'll need for the IRS and put it in a seperate account and don't touch it until tax time.
I am not doing this much longer. I am mentally burned out
 

nurburgringsf

Well-Known Member
I didn’t do the quarterly
Me too. Most Ants dont do their taxes til the next year. I'm gonna do mines in about a week. Most of the times I end up paying about 13% of my gross but I know I can pay less. (Just report 1.5x your logged miles) because that .5 were dead miles when logged off however you were technically still working trying to drive to a hotter spot. Idk what I'm saying, just report 1.5x or 2x your miles. Good luck
 

Jaredgeorge29

Well-Known Member
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  • #17
Me too. Most Ants dont do their taxes til the next year. I'm gonna do mines in about a week. Most of the times I end up paying about 13% of my gross but I know I can pay less. (Just report 1.5x your logged miles) because that .5 were dead miles when logged off however you were technically still working trying to drive to a hotter spot. Idk what I'm saying, just report 1.5x or 2x your miles. Good luck
You can do that? So I can put 80k?
 

xRacerX

Active Member
I have a similar formula that i use to make sure I have all the business miles that were put on the car. Not onlywhile online but any matter related to the business, on days im attending to the vehicle self or appt offsite, thats all getting calculated into the total business miles. Start to finish on mileage tracker app, 1 oil change every 3 weeks is my pace. Our poor little cars, they deserve some recognition.
 
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