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Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 7119
Experience:  Extensive Experience with Tax, Financial & Estate Issues
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Hello Experts, I am Fellow expert from over in Computers

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Hello Experts,

I am Fellow expert from over in Computers category. I have a tax related question about my earnings from the site. Starting in 2012 I would like to pay quarterly. I am looking for advice on the best way to go about this and make sure the I am getting the proper deductions and of course paying the least I can. I have messed around with turbo tax and find I am lost and do not have the time.

I guess what I am asking is, should I hire a professional to just take care of it for me? I have no idea what they cost so I am not sure if the amount they could save me would be worth it.

Any advice is appreciated.

Thank You

Stephen E. Grizey :

Hi & thanks for using our service. I'll do my best to give you a complete & accurate answer. Please ask me to clarify anything you don't understand.

Stephen E. Grizey :

The first question I would ask is what are your main sources of income?

Customer: replied 5 years ago.
Hello Stephen.


Did you switch out of chat on purpose?
Customer: replied 5 years ago.
I currently have a full time job and do just answer as well. I am making about the same amount from both places. I would say my full time job is my main source though.

Ok, well, I take it you are an employee at your full time job? In other words, you receive a W2.

As you know, we don't incur a lot of overhead/expenses in connection with, however, you can't measure the value of a professional simply by the amount of money they may save you.

For example I can figure out a lot of computer questions, but it would take me a lot of time & effort, so I choose to ask questions of a professional.

The same thing would apply to you; there are several ways to figure your estimated taxes and although you may be able to defer your tax payments until you file your returns, without penalties or interest, you may prefer to pay quarterly as you go, because that fits your budget more closely & is an easier way for you to manage your money.

So, my recommendation is that you hook yourself up with a local CPA & let him advise you on many things across the board; don't expert miracles in terms of tax savings; he's also going to save you a lot of time & effort and keep you in compliance with the regulations, while keeping your tax bill as low as possible without putting you at undue risk.
Stephen G. and other Tax Specialists are ready to help you
Customer: replied 5 years ago.
I didn't switch out of chat at all that I know of.

Doesn't matter re chat; we're in the Q/A format now.