What can you tell me about quarterly payments for 1099 employees?

Answer by  Kristine (145)

1099 individuals pay quarterly on April 15, June 15, September 15, and January 18, 2011 based on the previous years tax return if no other criteria is available for payments.

Answer by  TaxGirl2008 (57)

1099 employess or independent contractors are responsible for paying their own self-employment taxes quarterly. These taxes include Social Security, Medicare, Federal, City and State.

Answer by  Att4372 (1704)

First, 1099 workers are not employees; they are contractors. Contractors are responsible for making their own quarterly payments for Federal income tax, FICA (Social Security and Medicare) and state income tax (if any). FICA rate is approximately 15% of income. Tax rates range from 10 to 35 percent. Payments due April 15, June 15, September 15, and January 15.

Answer by  Stardancer (295)

Independent contractors (1099 employees) make estimated tax payments quarterly to pay Social Security and Medicare taxes and income tax, since they do not have an employer withholding those taxes for them. Form 1040-ES, Estimated Tax for Individuals (and the included worksheet) is used to figure and submit those quarterly returns and payments.

Answer by  cafish (2035)

When you get your taxes done, there will be four dates to send in your payment. You will pay both the employer and employee social security tax.