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    kurush's Avatar
    kurush Posts: 2, Reputation: 1
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    #1

    Sep 13, 2012, 11:01 AM
    Working at the same time on W2 and 1099 for other company.
    How I can proceed with taxes if currently I'm employed on W2 and also having night work on 1099?

    Thanks
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    Sep 13, 2012, 11:06 AM
    You have two sources of income to report when you file your tax return, with taxes being withheld from only one of the sources. So you may have to file quarterly estimated income tax forms to cover the taxes owed on your 1099 income and avoid any penalty for under-payment during the year. Your timing is good, because the estimated tax payments for the 3rd quarter are due to be filed by Monday.
    kurush's Avatar
    kurush Posts: 2, Reputation: 1
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    #3

    Sep 13, 2012, 11:12 AM
    Thank you!
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