Hi all, this is a newbie question:
My spouse has had small independent contractor gigs amounting to ~$2000 from Jan to Sep 2020. Then, a new gig added ~$5000 to her income from Oct to Dec 2020.
We have not paid any taxes on this income yet. Can it all be done in April 2021 when we file jointly? Or should we pay a quarterly amount in Jan 2021? Are there penalties?
We are currently seeking a CPA, but this is taking time and I’m posting here in case I should make a payment in Jan 2021.
Thanks in advance!
My spouse has had small independent contractor gigs amounting to ~$2000 from Jan to Sep 2020. Then, a new gig added ~$5000 to her income from Oct to Dec 2020.
We have not paid any taxes on this income yet. Can it all be done in April 2021 when we file jointly? Or should we pay a quarterly amount in Jan 2021? Are there penalties?
We are currently seeking a CPA, but this is taking time and I’m posting here in case I should make a payment in Jan 2021.
Thanks in advance!
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