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How to fill in form 1040 ES?
Im self employed under an employer. I dont have "any" taxes withheld from my pay. i average $200-400 each biweekly check period. how to I go about makin quarterly payments and how do I fill out that dreaded 1040ES form? Does it even have to be filled out when i send my check to uncle sam and/or can i just send a check instead of the form and a check?
3 Answers
- StephenWeinsteinLv 71 decade agoFavorite Answer
You do not need to fill out the entire long form. Even if you do fill out the form, you are supposed to keep it, not send it. You need to send only the check and the little stubs attached to the form that ask only for your name and address and the amount you are sending.
- CarVolunteerLv 61 decade ago
You just send a check plus the payment voucher(s) that come with the form. The form helps you to estimate how much you have to send. You are not "self-employed under an employer". You either have an employer or are self-employed.
To fill out the form, start at the top. For example, when you are going to fill out the form for 4/18/2011, you will know how much you made for the 1st 3 months. Subtract any deductible expenses. Since there are 12 months in a year, multiply the result by 4. That goes on line 1 of the 2011 Estimated Tax Worksheet. Follow the instructions step by step from there. At each due date, repeat the process. If your income is reasonably steady, you can pay the same amount on each of the 4 checks.
You can make it easier by just paying 1/4 of you entire bill form the previous year, but that might lead you to owe too much to be comfortable for you in April of 2012.