u/IllustriousDay3518

▲ 2 r/tax

1099 Estimated Taxes question

Hello, I am a student attending college in WA but I am a resident of RI. I work a part time job as an independent contractor (starting in late april) where I earn 22/hr and have only been working about 5hrs a week at the moment although my job description says 10-15hrs/week. I could end up working more hours in the summer but just how much is unclear given the light workload atm. I am very confused about how paying estimated taxes works in this situation because with my current workload, I don't think I meet the $1000 tax liability needed to pay estimated taxes but I am worried that if I do end up earning more than expected, I will be penalized for not having paid estimated taxes during the year. Any and all advice on how to navigate this situation would be appreciated, based on my reading it is pretty confusing given my situation. Thank you!

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u/IllustriousDay3518 — 6 days ago