I am a stay-at-home parent. I started a freelance business and expect to earn a total of $7000 by the end of the year. I file jointly with my husband every year. He is paying enough through withholding to cover my tax expenses. So, do I have to pay estimated taxes on what I earn? Or since I file jointly with my husband are my taxes already covered?
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13. February 2010 at 10:50 pm
As long as the withheld taxes are at least 80% of the expected tax due, you neither need to file estimated taxes nor pay any additional withholding in. ~