Tax payments for bloggers and writers

October 14th, 2013 → 12:23 pm @

Most bloggers, like writers, are self-employed business owners.

That means that their taxes are not withheld from a paycheck and bloggers must make their tax payments directly to the government (federal, state and local).

These payments are called estimated tax payments and should be paid every quarter.
The due dates for estimated taxes are
  • April 15,
  • June 15,
  • September 15
  • and January 15

Since the government as a pay-as-you-go system and it needs money flowing in all year, fall is a good time to estimate your tax and send in a payment.
Even if you missed the September 15 deadline, you can send in a payment now.

If you don’t pay your estimated taxes in a timely fashion, and owe the IRS more than $1,000, you might owe an additional tax penalty. Ouch!

If you didn’t owe any federal  taxes last year (i.e., you received a refund), or if you don’t expect to earn at least $1,000 profit in blogging income, you may be able to avoid paying estimated taxes. 🙂

The IRS uses Form 1040ES to have you calculate your estimated tax and has vouchers to mail in with your check.
(Warning: The 1040ES like doing a mini tax return. If you hate doing tax returns contact a local CPA.)

Prefer paying online? Use the Electronic Tax  Payment System. Sign up for an account at least 2 weeks before you  wish to make a payment.

Carol Topp, CPA


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