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Why are taxes forsomeone working a 1099or other freelance job set up like this?
GOBankingRates asked some freelancers and tax experts why quarterly payments are made instead of annual taxes.
This independent contractor pointed out that there are multiple reasons why theypay quarterly taxesas opposed to annual.
I speak from experience as I have done both.
Then the taxes are sent to the IRS to verify the employee pays taxes on the income earned.
But that taught me to keep better books even if Im not making millions.
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