The World's first A.I. tax engine for freelancers.

Paying approximated or estimated taxes helps you make sure that you are endowing the IRS (Internal Revenue Service) with sufficient money all through the year to ignore overdue round sum at the time of tax filing. Taxpayers must consider paying estimated tax if they gain a certain income that is not entitled to tax curbing. These can involve self-employment earnings, rental earnings, investment earnings, and capital income.    When it is Necessary to Pay Estimated Taxes    It’s necessary to pay estimated taxes on the income not liable to withhold, such as income from self-employment, compensation, interest, alimony, rent, and prizes. When you settle estimated taxes, you reimburse both self-employment and income taxes. But how much is the penalty for not paying estimated taxes ? Generally, you have to pay estimated taxes when:    - You are supposed to incur approximately $1,000 in tax after your refundable and withholding credits.    - You are supposed that your refundable and withhold

Being a freelancer, you must know that paying taxes is a part of your self-employment journey. But calculating the amount of tax one needs to pay is not easy. Instead, it is a very complicated process. With the tax law changing globally, companies in several industries and sectors always look forward to figuring out how to get the maximum benefit from new credits, deductions, and loopholes. Being a freelancer means that you remain so preoccupied with your workload and meeting deadlines you don’t get time to think about exactly how much you owe in taxes. This is the top reason why freelancers need popular income freelance tax estimators that help calculate their due tax for them. There are various freelance tax calculators available in the market. Some are better than others. Hence, it gets difficult to decide the best tax estimator for you. Many freelancers and independent employers can benefit from these freelance tax calculators and get a grasp on the amount of taxes they will owe.

When we say "employee," it often refers to anyone who is working. In many cases, this definition is correct, but some nuances need to be considered for the term "employee" not to be used interchangeably with independent contractors. Employees have a work schedule determined by their employer, and they receive mandatory benefits and professional training from them and the tools necessary for their job. It's essential you know how does a 1099 work to avoid misclassifying them.   1099 employees - What does it mean?   1099 employees, or non-employee workers, typically only get paid for the work they perform and don't enjoy many of the perks that regular employees do. They cover all their business expenses but may receive no protection, against discrimination and working hours, from a government agency called The Department of Labor.   Difference between an employee and 1099 employee   The 1099 self-employed workers are referred to as "employees" beca