Comments on: Estimated Taxes are Due for the Fourth Quarter of 2008 http://www.mysteryshoppersmanual.com/estimated-taxes-are-due-for-the-fourth-quarter-of-2008 Tips for being a successful professional shopper Wed, 08 Feb 2012 00:50:21 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Cathy Stucker http://www.mysteryshoppersmanual.com/estimated-taxes-are-due-for-the-fourth-quarter-of-2008/comment-page-1#comment-520 Cathy Stucker Mon, 19 Jan 2009 00:30:06 +0000 http://www.mysteryshoppersmanual.com/?p=394#comment-520 In general, you need to file estimated taxes if you will owe more than $1000 in taxes when you file your return. People who do a little mystery shopping here and there are unlikely to owe this much and would not have to file quarterly. If the shopper (or the shopper's spouse) has a job where taxes are withheld, a simple way to avoid paying quarterly estimated taxes is to have a little extra withheld by the employer. However, someone for whom mystery shopping is a significant source of income, or who does other work as an independent contractor (in addition to mystery shopping) may be required to file quarterly. Of course, it also depends on the total amount of income and what deductions and credits apply. Each situation is unique. In general, you need to file estimated taxes if you will owe more than $1000 in taxes when you file your return. People who do a little mystery shopping here and there are unlikely to owe this much and would not have to file quarterly.

If the shopper (or the shopper’s spouse) has a job where taxes are withheld, a simple way to avoid paying quarterly estimated taxes is to have a little extra withheld by the employer.

However, someone for whom mystery shopping is a significant source of income, or who does other work as an independent contractor (in addition to mystery shopping) may be required to file quarterly. Of course, it also depends on the total amount of income and what deductions and credits apply. Each situation is unique.

]]> By: crawdaddydoo92 http://www.mysteryshoppersmanual.com/estimated-taxes-are-due-for-the-fourth-quarter-of-2008/comment-page-1#comment-516 crawdaddydoo92 Mon, 12 Jan 2009 09:00:03 +0000 http://www.mysteryshoppersmanual.com/?p=394#comment-516 What percentage of shoppers actually make enough to need to file this way? I'd assume a fair amount since you're blogging about it. even doing shopping, merchandising, thearter, and auditing I still don't make anywhere near enough to do it this way. Heck my total income isn't much more than what I'd need to owe in taxes to file this way. What percentage of shoppers actually make enough to need to file this way? I’d assume a fair amount since you’re blogging about it. even doing shopping, merchandising, thearter, and auditing I still don’t make anywhere near enough to do it this way. Heck my total income isn’t much more than what I’d need to owe in taxes to file this way.

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