Clear serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India.Įfiling Income Tax Returns(ITR) is made easy with Clear platform. So for now, just ignore your spouse's income and focus on your own self-employment income.Clear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. Your suggestion to just pay estimated tax payments based on what you believe will be your net yearly income from self-employment appears to be a good option. And you are right to suggest that your spouse may pay enough for the both of you to cover your self-employment tax. It can be a little complicated trying to estimate with a fair amount of certainty what you might owe in terms of self-employment tax as well as income tax. You are correct in that if you get a refund, you have overpaid your tax liability. Your decision to pay just your part by dividing your estimated yearly net income by four is certainly an option. If you feel you are not withholding enough, you can always increase your quarterly payments to compensate for an unexpected, but perhaps welcomed, increase in includes both because you are filing jointly, and therefore, all income-you and your spouse-are included in the quarterly estimated tax computation. So for now, just ignore your spouse's income and focus on your own self-employment income. It includes both because you are filing jointly, and therefore, all income-you and your spouse-are included in the quarterly estimated tax computation.
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